{"id":19811,"date":"2022-05-05T10:10:00","date_gmt":"2022-05-05T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=19811"},"modified":"2022-04-19T11:41:11","modified_gmt":"2022-04-19T18:41:11","slug":"vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2022\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/","title":{"rendered":"Vancouver Recorded A 17% Drop in Housing Starts, While Kelowna Recorded The Highest 342% Increased M\/M"},"content":{"rendered":"<p style=\"text-align: justify;\">Last month, the number of housing units kicking off construction trended lower across the country.<\/p>\n<p style=\"text-align: justify;\">According to the latest data from the Canada Mortgage and Housing Corporation (CMHC), the trend in housing starts was 252,497 units in March, 799 units less than the 253,296 unit starts recorded in February.<\/p>\n<p style=\"text-align: justify;\">CMHC defines a housing start when construction begins on a building where a dwelling unit is located. 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;\">The standalone monthly seasonally adjusted annual rates (SAAR) of total housing starts for all areas in Canada was 246,243 units in March. This marks a 2% drop from February. Last month, the SAAR of total urban starts also fell by 2% to 220,708 units, down from 224,738 starts.<\/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, hovering above 200,000 units since June 2020; however, the trend in housing starts posted a small decline from February to March,\u201d said Bob Dugan, CMHC\u2019s chief economist, in March\u2019s housing starts report.<\/p>\n<p style=\"text-align: justify;\">\u201cThe decline in the monthly SAAR housing starts in Canada\u2019s urban areas was driven by lower multi-unit starts, which were partially offset by higher single-detached starts in March. Among Montreal, Toronto and Vancouver, Montreal was the only market to post growth in total SAAR starts, which was driven by higher multi-unit starts,\u201d he added.<\/p>\n<p style=\"text-align: justify;\">The trend measure is a six-month moving average of the SAAR of housing starts. CMHC explained that \u200b\u200bthe trend measure is a complement to the monthly SAAR of housing starts to account for \u201cconsiderable swings,\u201d in monthly estimates. It also helps to determine a more accurate estimate of upcoming new housing supply. Using SAAR data alone can be misleading since the multi-unit segment largely drives the market and can change from one month to the other, CMHC stated in its report.<\/p>\n<p style=\"text-align: justify;\">By housing type, multi-unit urban starts dropped 5% from 163,807 units to 154,876 units between February and March, while urban starts for single-detached homes increased 8% from 60,931 units to 65,832 units during the same time period. Rural starts were estimated at a seasonally adjusted annual rate of 25,535 units.<\/p>\n<p style=\"text-align: justify;\">In Canada\u2019s three largest cities \u2014 Toronto, Vancouver and Montr\u00e9al \u2014 the monthly SAAR of total housing starts equaled 39,741 units, 14,218 units and 23,479 units in March. Toronto and Vancouver recorded a monthly drop in total housing starts, down 40% and 17% month-to-month, while construction starts increased between February and March in Montr\u00e9al by 46%. Moncton, Barrie and Kelowna recorded some of the highest changes in total SAAR housing starts last month, where monthly starts increased 451%, 342% and 162%, respectively.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2022\/04\/housing-starts-march-cmhc.html\" target=\"_blank\" rel=\"noopener\">CMHC : Housing Starts Trended Downward in March, but Activity Remains Historically High<\/a> by Michelle McNally | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last month, the number of housing units kicking off construction trended lower across the country. According to the latest data from the Canada Mortgage and Housing Corporation (CMHC), the trend &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2022\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-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-19811","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>Vancouver Recorded A 17% Drop in Housing Starts, While Kelowna Recorded The Highest 342% Increased 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\/2022\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver Recorded A 17% Drop in Housing Starts, While Kelowna Recorded The Highest 342% Increased M\/M &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Last month, the number of housing units kicking off construction trended lower across the country. According to the latest data from the Canada Mortgage and Housing Corporation (CMHC), the trend &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\\\/05\\\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/05\\\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Vancouver Recorded A 17% Drop in Housing Starts, While Kelowna Recorded The Highest 342% Increased M\\\/M\",\"datePublished\":\"2022-05-05T17:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/05\\\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\\\/\"},\"wordCount\":468,\"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\\\/05\\\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/05\\\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/05\\\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\\\/\",\"name\":\"Vancouver Recorded A 17% Drop in Housing Starts, While Kelowna Recorded The Highest 342% Increased M\\\/M &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2022-05-05T17:10:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/05\\\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/05\\\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/05\\\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Vancouver Recorded A 17% Drop in Housing Starts, While Kelowna Recorded The Highest 342% Increased M\\\/M\"}]},{\"@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":"Vancouver Recorded A 17% Drop in Housing Starts, While Kelowna Recorded The Highest 342% Increased M\/M &#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\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/","twitter_card":"summary_large_image","twitter_title":"Vancouver Recorded A 17% Drop in Housing Starts, While Kelowna Recorded The Highest 342% Increased M\/M &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Last month, the number of housing units kicking off construction trended lower across the country. According to the latest data from the Canada Mortgage and Housing Corporation (CMHC), the trend &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\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Vancouver Recorded A 17% Drop in Housing Starts, While Kelowna Recorded The Highest 342% Increased M\/M","datePublished":"2022-05-05T17:10:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/"},"wordCount":468,"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\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2022\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/","url":"https:\/\/www.roryc.ca\/blog\/2022\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/","name":"Vancouver Recorded A 17% Drop in Housing Starts, While Kelowna Recorded The Highest 342% Increased M\/M &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2022-05-05T17:10:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2022\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2022\/05\/vancouver-recorded-a-17-drop-in-housing-starts-while-kelowna-recorded-the-highest-342-increased-m-m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Vancouver Recorded A 17% Drop in Housing Starts, While Kelowna Recorded The Highest 342% Increased M\/M"}]},{"@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\/19811","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=19811"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/19811\/revisions"}],"predecessor-version":[{"id":19812,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/19811\/revisions\/19812"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=19811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=19811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=19811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}