Prince George, B.C.-  There is mixed news on the housing starts for the third quarter in B.C.

 

In Prince George, the January to September starts are down 35.2% compared to the same period in 2008. The September starts are down 26.7% compared to the same month a year ago.

 

However, Canada Mortgage and Housing says things are starting to pick up across the province.

 

The seasonally-adjusted annual rate of housing starts increased to 14,200 units in the third quarter compared to 10,700 units in the second quarter, according to Canada Mortgage and Housing Corporation (CMHC). Both single-detached and multiple-family housing starts were up compared to the previous quarter.

 

“As expected, a tighter resale market and improving economic conditions are leading to a pick up in housing starts,” said Carol Frketich, CMHC’s Regional Economist for British Columbia.

 

“The improving trend in single-detached home starts demonstrates there is underlying strength in new home construction. CMHC’s forecast for 2009 includes an increase in residential construction during the second half of the year.”

 

Nationally, all area housing starts totalled 150,100 units in September compared to 157,300 in August.