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Canadian Housing Starts (December 2022)

Posted by Ron Neal on Tuesday, January 17th, 2023 at 5:49pm.

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May30-1
 

Canadian Housing Starts (December 2022) - January 17, 2023

Canadian housing starts declined 5.5 per cent to 248,625 units in December at a seasonally-adjusted annual rate (SAAR). Starts were up 1.4 per cent from December of 2021. Single-detached housing starts fell 10.4 per cent to 58.5k, while multi-family and others fell 3.9 per cent to 190.1k (SAAR). 

In British Columbia, starts rose by 20.7 per cent in December to 58.6k units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 2.7 per cent m/m to 7.2k units while multi-family starts rose 25.1 per cent to 47.4k units. Starts in the province were 5 per cent above the levels from December 2021. Starts were up by 10k in Vancouver, 1.2k in Kelowna, and 0.9k in Abbotsford, while declining by 4k units Victoria. The 6-month moving average trend rose 0.8 per cent to 50.5k in BC in November. 

Link: https://mailchi.mp/bcrea/canadian-housing-starts-december-2022

For more information, please contact:

Brendon Ogmundson
Chief Economist
604.742.2796
bogmundson@bcrea.bc.ca 
 

BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

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The Neal Estate Group is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 5,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Group have the industry experience and market knowledge to help you make smart and informed buying or selling decisions. 


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