Housing construction has got off to a slow start in Vernon.
The Canada Mortgage and Housing Corporation reports there were four starts in January, a 78 per cent decrease from the 18 units during the same month in 2010.
“The new home construction sector continues to face strong price competition from a well supplied existing home market” said analyst Paul Fabri.
He added that lingering inventories of new, completed and unoccupied condominium apartment units have also constrained multi-family construction.
Of the four units in January, all of them were single-detached units, a 73 per cent decrease from the 15 single units during the same month in 2010.
There were three multiple units constructed in January 2010.
