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Canadian Housing Starts (January 2022)

Posted by Ron Neal on Tuesday, February 15th, 2022 at 3:23pm.

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May30-1
 

Canadian Housing Starts (January 2022) - February 15, 2022

Canadian housing starts fell to 230.8k units in January at a seasonally-adjusted annual rate (SAAR). Housing starts were down by 7.7k (3% m/m) in January (SAAR). Comparing year-over-year, starts were down from January of 2021 (26.9% y/y). Single-detached housing starts rose 8.9% in January to 78.5k, while multi-family and others dropped 8.5% to 152.2k (SAAR). 

In British Columbia, starts were down 29.2% in January, falling to 39.4k units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts fell 23.4% m/m to 7.2k units while multi-family starts declined 33.4% to 28.2k units. Starts in the province were 33.7% below the levels from January 2021. Starts were down by 4.4k units in Vancouver, 4.2k in Victoria, 5.2k in Kelowna, and 0.1k in Abbotsford. The 6-month moving average trend declined 4.4% to 42.3k in BC in January.

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

For more information, please contact:

Brendon Ogmundson
Chief Economist
604.742.2796
bogmundson@bcrea.bc.ca 
Ryan McLaughlin
Economist
604.366.6511
rmclaughlin@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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