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Canadian Housing Starts (Oct) - November 17, 2020

Posted by Ron Neal on Tuesday, November 17th, 2020 at 7:32pm.

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May30-1
 

Canadian Housing Starts (Oct) - November 17, 2020

A correction was made to the chart, "Year-to-Date Housing Starts by City".

Canadian housing starts increased by 3% m/m to 214,875 units in October at a seasonally adjusted annual rate (SAAR), following a decline in September. Housing starts increased in 6 of 10 provinces with strong gains in Manitoba and Alberta. Building activity gained momentum in the single-detached segment, while multi-unit starts declined slightly. October's healthy number increased the six-month moving average to 222,734 units SAAR.  

In BC, housing starts decreased by 6% m/m to 30,381 units SAAR in October, following a decrease of 26% in September. Building activity was up by 6% in the single-detached segment, while multi-unit starts were down by 11%. In the near term, we can expect housing activity to continue to be supported by strong demand and historically low borrowing rates. Meanwhile, the value of residential building permits was up in September by 34%. Compared to the same time last year, housing starts were down by 11% in BC.  

Link: https://mailchi.mp/bcrea/canadian-housing-starts-oct-november-17-2020

 

 

For more information, please contact:

Brendon Ogmundson
Chief Economist
604.742.2796
bogmundson@bcrea.bc.ca 
Kellie Fong
Economist
778.357.0831
kfong@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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