City sees strong housing jump

The Kamloops housing market rebounded strongly from last year’s recession, recording almost double the number of housing starts from the first quarter of 2009.

Canada Mortgage and Housing Corp. reported Monday work began on 33 single-family houses and 101 multi-family units in March. That boosted the total for the year in both categories to 185.

CMHC analyst Paul Fabri said new home buyers are taking advantage of low interest rates and lower construction costs.

The number of single-family homes under construction in Kamloops jumped from 13 in the first quarter of 2009 to 74 in the same period this year.

Kamloops recorded the lowest level of construction increase compared to Penticton, Kelowna and Vernon.

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