Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |

Categories
RSS

Canadian Housing Starts (September 2021) - October 19, 2021

Canadian Housing Starts (September 2021) - October 19, 2021


Canadian housing starts declined for the fourth consecutive month in September, but remain strong compared to typical pre-pandemic activity. Housing starts decreased by 11.6k to 251.2k units (-4.4% m/m) in September at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were up significantly from September of 2020 (20.1% y/y). Single-detached housing starts dipped 5% in September to 76.7k, while multi-family and others declined 4% to 174.4k (SAAR). 

In British Columbia, starts declined for a third consecutive month, dropping sharply by 23.7% m/m to 35.9k units SAAR in all areas of the province. Single-detached starts rose 9.6% m/m to 7.9k units while multi-family starts offset this growth with a 32.5% decline to 23.7k units. Despite this, starts in the province remained 11% above the levels from September 2020. BC's six-month moving average for starts declined sharply following three months of gains. 



Copyright British Columbia Real Estate Association. Reprinted with permission.

Comments:

No comments

Post Your Comment:

Your email will not be published
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.