Canadian housing starts increased 4 per cent from the previous month, totalling 294,085 units in July at a seasonally adjusted annual rate (SAAR). Starts were up 7 per cent from the same month last year. Single-detached housing starts decreased by 1 per cent from last month to 55,740 units, while multi-family and other starts increased by 5 per cent to 238,342 units (SAAR). 

In British Columbia, starts fell by 15 per cent from last month to 56,918 units (SAAR) in all areas of the province. In areas of the province with 10,000 or more residents, single-detached starts increased by 1 per cent to 3,953 units, while multi-family starts fell by 17 per cent to 50,394 units month-over-month. Starts in the province were 16 per cent above the levels from July 2024. Year-to-date starts are up 147 per cent in Abbotsford and 29 per cent in Victoria, but down 71 per cent in Nanaimo, 36 per cent in Kelowna, and 5 per cent in Vancouver.

Copyright British Columbia Real Estate Association. Reprinted with permission.