Canadian housing starts decreased 17 per cent from the previous month, totaling 232,765 units in October at a seasonally adjusted annual rate (SAAR). Starts were down 5 per cent from the same month last year.  Single-detached housing starts decreased by 8 per cent from last month, while multi-family and other starts decreased by 1 per cent. 

In British Columbia, starts fell by 5 per cent from last month to 35,356 units (SAAR) in all areas of the province. In areas of the province with 10,000 or more residents, single-detached starts increased by 16 per cent to 4,671 units, while multi-family starts fell by 8 per cent to 27,809 units month-over-month (SAAR). Starts in the province were 19 per cent below the levels from October 2024. Year-to-date starts are up 111 per cent in Abbotsford and 23 per cent in Victoria, but down 52 per cent in Nanaimo, 38 per cent in Kelowna, and 4.5 per cent in Vancouver.

Copyright British Columbia Real Estate Association. Reprinted with permission.