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Canadian Housing Starts (June 2022)

Posted by Ron Neal on Monday, July 18th, 2022 at 7:55pm.

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May30-1
 

Canadian Housing Starts (June 2022) - July 18, 2022

Canadian housing starts fell by 8.3k (3 per cent) to 273.8k units in June at a seasonally-adjusted annual rate (SAAR). Comparing year-over-year, starts were down from June of 2021 (1.6 per cent). Single-detached housing starts declined 3.9 per cent to 72.1k, while multi-family and others fell 2.6 per cent to 201.8k (SAAR). 

In British Columbia, starts rose 34.6 per cent in June, rising to 56.4k units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts declined 10.3 per cent m/m to 6.9k units while multi-family starts rose 48.4 per cent to 46k units. Starts in the province were 15.3 per cent below the levels from June 2021. Starts were up by 7.9k units in Vancouver, 6.4k in Kelowna, and 1.0k in Abbotsford from last month, while declining by 1.3k in Victoria. The 6-month moving average trend rose 0.3 per cent to 43.1k in BC in June. 

Link: https://mailchi.mp/bcrea/canadian-housing-starts-june-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 Team

The Neal Estate Team 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 4,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Team have the industry experience and market knowledge to help you make smart and informed buying or selling decisions. 


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