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By Liam Verster

Housing Starts Data

Vernon’s housing construction dropped significantly on an annual basis

Jul 19, 2024 | 2:00 PM

The first half of the year saw a significant decrease in housing construction in Vernon.

The Canada Mortgage and Housing Corporation (CMHC) reported just six new project starts in June, bringing the year-to-date total up to 54.

Comparatively, the end of June 2023 saw a total of 181 housing starts, including 18 during the month.

The projects started in Vernon this past month involved five single detached homes and one apartment.

The province and the nation also saw a slow down in housing construction this past June.

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CMHC reported 3,343 starts in all of British Columbia last month, down from 5,375 starts in June of 2023.

Canada saw construction begin on a total of 20,509 housing projects this June, down from 23,518 in the same month the year prior.

In the first six months of 2024, there were 22,287 housing project starts throughout B.C., which was down from the 24,214 starts in the same period of 2023.

Nationally, there had been 110,251 housing starts recorded between January 1st and June 30th, which was up from 103,153 starts in the first six months of last year.