B.C. is poised for an increase in housing starts between 2013 and 2014, according to a Canada Mortgage and Housing Corp. (CMHC) forecast released August 15.
In 2013, the CMHC forecasts 27,100 housing starts. In 2014, the forecast jumps to 28,600 homes.
Existing home sales will also increase, said the CMHC.
In 2013, home sales are expected to reach 70,100 units. In 2014, sales are expected to hit 77,000 units.
Prices of existing homes in 2013 will average $518,300 before rising to $523,200 in 2014.
