Or at least that’s according to a new report by the Canada Mortgage and Housing Corporation (CMHC).

CMHC reports that overall housing starts are up in BC this February from last, thanks to an increase in the number of new multi-family dwelling projects across urban centres.

The trends continue all over urban BC, with Nanaimo, Victoria, Abbotsford, and Chilliwack among the cities recording an increase.

 In Vancouver alone, 1,675 new multi-family units got going last month, up 38% from 1,211 in February 2011. And while multi-family homes were on the upswing, detached homes decreased from 203 to 195.

“Residential construction activity during the first two months of 2012 is ahead of last year’s levels due to strength in a number of housing markets around the province,” said Carol Frketich, CMHC’s BC Regional Economist.

What’s your opinion on CMHC’s report? Weigh in on our forum or in the comments!

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