{"id":19447,"date":"2022-03-01T10:10:00","date_gmt":"2022-03-01T18:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=19447"},"modified":"2022-02-28T12:57:49","modified_gmt":"2022-02-28T20:57:49","slug":"the-level-of-housing-starts-activity-in-canada-remains-historically-high","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2022\/03\/the-level-of-housing-starts-activity-in-canada-remains-historically-high\/","title":{"rendered":"The Level of Housing Starts Activity in Canada Remains Historically High"},"content":{"rendered":"

Wrapping up the first month of 2022, new housing starts across Canada trended lower according to the latest information from the Canada Mortgage and Housing Corporation (CMHC).<\/p>\n

In January, the trend in housing starts was 254,133 units, a drop from December 2021\u2019s 261,352 units.<\/p>\n

CMHC defines this trend measure as a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. The trend measure is used as a complement to the monthly SAAR of housing starts to \u201caccount for considerable swings in monthly estimates,\u201d as well as to get a more complete picture of Canada\u2019s future new housing supply.<\/p>\n

\u201cOn a trend and monthly SAAR basis, the level of housing starts activity in Canada remains historically high; however, the six-month trend in housing starts was lower from December to January,\u201d said Bob Dugan, CMHC\u2019s chief economist, in the report. \u201cFor SAAR housing starts in Canada\u2019s urban areas, single-detached starts were higher, while multi-family starts declined in January.\u201d<\/p>\n

Dugan also noted that between Montr\u00e9al, Toronto and Vancouver, Montr\u00e9al was the only market to report growth in total SAAR starts in January as a result of higher single-detached and multi-family starts.<\/p>\n

In January, the standalone monthly SAAR of total housing starts for all areas in Canada was 230,754 units. This marks a 3% drop from the 238,405 units recorded in December.<\/p>\n

In the same month, the SAAR of total urban starts dropped five per cent monthly to 204,428 units, while rural starts were estimated to be 26,326 units at a seasonally adjusted annual rate. By housing type, multiple urban starts decreased 9% month-to-month to 144,332 units as single-detached urban starts actually grew 7% to 60,096 units between January and December.<\/p>\n

By metropolitan area, Toronto, Montr\u00e9al and Vancouver reported SAAR totals of 21,714 units, 26,456 units and 22,192 units in January. On a month-to-month basis, this equals a 27% and 17% decrease for Toronto and Vancouver, but a 16% increase for Montr\u00e9al. Calgary and Halifax also reported monthly drops of 44% and 17%, while increases were noted in Ottawa\u2013Gatineau (94%) and Winnipeg (4%).<\/p>\n

CMHC defines a housing start as when construction starts on a building where a dwelling unit is located, usually when concrete has been poured for the footing around the structure, or the equivalent stage when a basement is not a part of the structure.<\/p>\n

CMHC : Housing Starts Stayed Historically High, But Trended Lower in January<\/a> by Michelle McNally | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"

Wrapping up the first month of 2022, new housing starts across Canada trended lower according to the latest information from the Canada Mortgage and Housing Corporation (CMHC). In January, the … [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-19447","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"\nThe Level of Housing Starts Activity in Canada Remains Historically High • 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\/2022\/03\/the-level-of-housing-starts-activity-in-canada-remains-historically-high\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Level of Housing Starts Activity in Canada Remains Historically High • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Wrapping up the first month of 2022, new housing starts across Canada trended lower according to the latest information from the Canada Mortgage and Housing Corporation (CMHC). 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