CMHC produces quarterly market outooks for major cities in Canada.
For the full Fall 2013 Update Click here.
Kelowna Highlights
Kelowna area housing starts are forecast at 900 homes this year and 1,125 homes in 2014. Both single-detached and multiple family starts are forecast to move higher.
Demand for new and existing homes is expected to increase in 2014. Higher employment growth couples with low mortgage interest rates will support increased demand for housing in Kelowna.
MLS® home sales are forecast to increase to 12% in 2014. Buyers will continue to benefit form an ample supply of listings and price competition among sellers.
MLS® prices are expected to edge higher in 2014 as demand improves and the supply of listings is drawn down.
Kelowna's apartment vacancy rate is expected to edge lower in 2013 and 2014.
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