{"id":16074,"date":"2020-07-14T10:10:00","date_gmt":"2020-07-14T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=16074"},"modified":"2020-07-13T14:21:53","modified_gmt":"2020-07-13T21:21:53","slug":"bc-housing-starts-show-little-change-in-activity-m-m","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2020\/07\/bc-housing-starts-show-little-change-in-activity-m-m\/","title":{"rendered":"BC Housing Starts Show Little Change in Activity M\/M"},"content":{"rendered":"<p style=\"text-align: justify;\">What happened : Housing starts show little change in activity month to month.<\/p>\n<p style=\"text-align: justify;\">Why it matters : BC appears to be an outlier compared with national numbers.<\/p>\n<p style=\"text-align: justify;\">Housing starts in BC remained flat in June compared with a month earlier, according to the Canada Mortgage and Housing Corp. (CMHC).<\/p>\n<p style=\"text-align: justify;\">Data released Thursday (June 9) reveals a total of 36,069 housing starts in June, down slightly from the 36,098 units reported in June.<\/p>\n<p style=\"text-align: justify;\">\u201cEven before the pandemic, activity was more modest amid softer conditions,\u201d BMO economist Priscilla Thiagamoorthy said in a note to investors, referring to provincial figures.<\/p>\n<p style=\"text-align: justify;\">In Metro Vancouver, housing starts fell 5% month to month, reaching 23,577 in June compared with 24,917 in May.<\/p>\n<p style=\"text-align: justify;\">The drop was more pronounced in Victoria, with housing starts dropping 23% from 3,060 units in May to 2,342 units in June.<\/p>\n<p style=\"text-align: justify;\">The Kelowna region, however, recorded a 61% surge in housing starts, growing from 1,788 units to 2,858 units between May and June.<\/p>\n<p style=\"text-align: justify;\">The Abbotsford-Mission area saw 18% growth last month, from 498 units in May to 590 units in June.<\/p>\n<p style=\"text-align: justify;\">Nationally, housing starts were up 8% month to month, from 195,453 units in May to 196,674 units in June.<\/p>\n<p style=\"text-align: justify;\">&#8220;This reflects higher multi-family starts in Toronto and Montreal following declines in these centres in recent months from COVID-19 measures,\u201d CMHC chief economist Bob Dugan said in a statement.<\/p>\n<p style=\"text-align: justify;\">\u201cHousing starts continued to decline in most other centres in June, including Vancouver. We expect national starts to trend lower in the near term as a result of the negative impact of COVID-19 on economic and housing indicators.&#8221;<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2020\/07\/bc-housing-starts-static-june-cmhc\" target=\"_blank\" rel=\"noopener noreferrer\">CMHC : BC Housing Starts Static in June<\/a> by Tyler Orton | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What happened : Housing starts show little change in activity month to month. Why it matters : BC appears to be an outlier compared with national numbers. Housing starts in &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2020\/07\/bc-housing-starts-show-little-change-in-activity-m-m\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-16074","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BC Housing Starts Show Little Change in Activity M\/M &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2020\/07\/bc-housing-starts-show-little-change-in-activity-m-m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BC Housing Starts Show Little Change in Activity M\/M &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"What happened : Housing starts show little change in activity month to month. 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