{"id":19609,"date":"2022-03-24T10:10:00","date_gmt":"2022-03-24T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=19609"},"modified":"2022-03-16T10:08:15","modified_gmt":"2022-03-16T17:08:15","slug":"cmhc-new-home-starts-trending-lower-across-canada","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/","title":{"rendered":"CMHC New Home Starts Trending Lower Across Canada"},"content":{"rendered":"<p style=\"text-align: justify;\">The number of new homes kicking off construction trended downward last month according to the latest insights released by the Canada Mortgage and Housing Corporation (CMHC). Meanwhile, a significant increase in total monthly starts was noted in Toronto.<\/p>\n<p style=\"text-align: justify;\">In February, the trend in housing starts was 251,579 units, a slight drop from the 253,864 units recorded in January.<\/p>\n<p style=\"text-align: justify;\">The trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. This measure is used to complement the monthly SAAR of housing starts to account for swings in monthly estimates and to get an idea of upcoming new housing supply, according to CMHC. Analyzing just SAAR data alone can be misleading, the organization explains, as the multi-unit segment largely drives the market and can \u201cvary significantly from one month to the next.\u201d<\/p>\n<p style=\"text-align: justify;\">In February, the standalone monthly SAAR of total housing starts for all areas in Canada was 247,256 units. This marks an eight per cent increase from January\u2019s 229,185 units.<\/p>\n<p style=\"text-align: justify;\">\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 declined slightly from January to February,\u201d explained Bob Dugan, CMHC\u2019s chief economist, in a press release.<\/p>\n<p style=\"text-align: justify;\">Last month, the SAAR of total urban starts jumped 10% to 222,563 units between January and February, while housing starts in rural areas were estimated at a seasonally adjusted annual rate of 24,693 units.<\/p>\n<p style=\"text-align: justify;\">By housing type, the SAAR of multi-unit urban starts grew 13% month-to-month from 143,150 units to 161,912 units in February. Meanwhile, single-detached urban starts nudged up two per cent to 60,651 units during the same period.<\/p>\n<p style=\"text-align: justify;\">\u201cFor SAAR housing starts in Canada\u2019s urban areas, both single-detached and multi-unit starts increased in February,\u201d said Dugan. \u201cAmong Montr\u00e9al, Toronto and Vancouver, Toronto was the only market to post growth in total SAAR starts in February, due to higher single-detached and multi-unit starts.\u201d<\/p>\n<p style=\"text-align: justify;\">In Canada\u2019s three largest cities, housing starts in Toronto, Vancouver and Montr\u00e9al reported the total SAAR for starts to be 65,763 units, 17,168 units and 16,142 units in February. Construction starts in the latter two cities fell 23% and 40% from January while Toronto posted a 195% monthly gain in the SAAR of total housing starts, up from 22,268 units in January.<\/p>\n<p style=\"text-align: justify;\">Toronto\u2019s \u201call others,\u201d category of housing starts, which excludes single-detached properties, increased 303% between January and February as the SAAR of starts jumped from 13,980 units to 56,364 units.<\/p>\n<p style=\"text-align: justify;\">A housing start takes place when construction begins on a building where a dwelling unit is located, as per CMHC. This usually occurs 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<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2022\/03\/housing-starts-trend-lower-reports-cmhc.html\" target=\"_blank\" rel=\"noopener\">CMHC : Housing Starts Trend Lower Across Canada in February as Toronto Reports Increases<\/a> by Michelle McNally | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The number of new homes kicking off construction trended downward last month according to the latest insights released by the Canada Mortgage and Housing Corporation (CMHC). Meanwhile, a significant increase &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/\">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-19609","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CMHC New Home Starts Trending Lower Across Canada &#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\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CMHC New Home Starts Trending Lower Across Canada &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The number of new homes kicking off construction trended downward last month according to the latest insights released by the Canada Mortgage and Housing Corporation (CMHC). Meanwhile, a significant increase &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/03\\\/cmhc-new-home-starts-trending-lower-across-canada\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/03\\\/cmhc-new-home-starts-trending-lower-across-canada\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"CMHC New Home Starts Trending Lower Across Canada\",\"datePublished\":\"2022-03-24T17:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/03\\\/cmhc-new-home-starts-trending-lower-across-canada\\\/\"},\"wordCount\":472,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/03\\\/cmhc-new-home-starts-trending-lower-across-canada\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/03\\\/cmhc-new-home-starts-trending-lower-across-canada\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/03\\\/cmhc-new-home-starts-trending-lower-across-canada\\\/\",\"name\":\"CMHC New Home Starts Trending Lower Across Canada &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2022-03-24T17:10:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/03\\\/cmhc-new-home-starts-trending-lower-across-canada\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/03\\\/cmhc-new-home-starts-trending-lower-across-canada\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/03\\\/cmhc-new-home-starts-trending-lower-across-canada\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CMHC New Home Starts Trending Lower Across Canada\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CMHC New Home Starts Trending Lower Across Canada &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/","twitter_card":"summary_large_image","twitter_title":"CMHC New Home Starts Trending Lower Across Canada &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"The number of new homes kicking off construction trended downward last month according to the latest insights released by the Canada Mortgage and Housing Corporation (CMHC). Meanwhile, a significant increase &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"CMHC New Home Starts Trending Lower Across Canada","datePublished":"2022-03-24T17:10:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/"},"wordCount":472,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/","url":"https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/","name":"CMHC New Home Starts Trending Lower Across Canada &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2022-03-24T17:10:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2022\/03\/cmhc-new-home-starts-trending-lower-across-canada\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"CMHC New Home Starts Trending Lower Across Canada"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/19609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=19609"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/19609\/revisions"}],"predecessor-version":[{"id":19610,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/19609\/revisions\/19610"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=19609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=19609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=19609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}