The city of Vancouver issued 28 building permits for construction of single-family homes in February worth an estimated total of $2.5 million.
The numbers were largely unchanged from the same month last year when the city issued 29 single-family home permits worth $2.3 million. Last month's permit activity also increased a bit compared with January 2013, when the city's Community and Economic Development Department issued just 23 permits.
Homebuilding increased steadily through 2012, as measured by permits, activity prompted by an inventory crunch, as the local real estate market continued to record lower supplies of existing homes on the market. In February 2011, Vancouver issued 13 permits for new homes, and in February 2010, the city issued 12 permits.