{"id":20288,"date":"2022-07-25T10:10:00","date_gmt":"2022-07-25T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=20288"},"modified":"2022-07-19T10:36:37","modified_gmt":"2022-07-19T17:36:37","slug":"canadian-housing-starts-remain-historically-high","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2022\/07\/canadian-housing-starts-remain-historically-high\/","title":{"rendered":"Canadian Housing Starts Remain &#8220;Historically&#8221; High"},"content":{"rendered":"<p style=\"text-align: justify;\">The number of new homes being built in Canada dropped slightly between May and June, but housing start levels remain at a high.<\/p>\n<p style=\"text-align: justify;\">New data released by the Canada Mortgage and Housing Corporation (CMHC) shows that the standalone monthly seasonally adjusted annual rates (SAAR) of housing starts for all areas in Canada during June was 273,841 units. This marks a 3% drop from May, when there were 282,188 unit starts nationwide.<\/p>\n<p style=\"text-align: justify;\">The SAAR of total urban starts also fell three per cent over the same time period, down from 264,578 units to 257,438 units between May and June. Multi-unit urban starts decreased 2% from 201,874 units to 197,022 units, while single-detached urban starts declined 4% from May to June from 62,704 units to 60,416 units. Rural starts were estimated at a SAAR of 16,403 units.<\/p>\n<p style=\"text-align: justify;\">CMHC defines a housing start to have been initiated when construction begins on a building where a dwelling unit is located. This tends to happen when concrete is poured for the footing around the structure or the equivalent stage when there is no basement.<\/p>\n<p style=\"text-align: justify;\">\u201cThe monthly SAAR was lower in June compared to May; however, the level of housing starts activity in Canada remains historically high and well above 200,000 units since 2020,\u201d said Bob Dugan, CMHC\u2019s chief economist, in the monthly starts report. \u201cThe decrease in monthly SAAR housing starts in Canada\u2019s urban areas was driven by lower single-detached starts in June.\u201d<\/p>\n<p style=\"text-align: justify;\">Toronto, Vancouver and Montreal reported a monthly increase of 27%, 32% and 5% to their total SAAR starts in June, which resulted in 49,860, 32,420 and 36,469 unit starts for all housing types in each city that month.<\/p>\n<p style=\"text-align: justify;\">\u201cVancouver, Toronto and Montreal all recorded higher total SAAR starts, driven by higher multi-unit starts except for Montreal where single-detached starts posted a higher increase,\u201d said Dugan.<\/p>\n<p style=\"text-align: justify;\">Between May and June, Thunder Bay, Guelph and Kelowna reported some of the biggest increases to their monthly SAAR starts, which rose 353%, 341% and 304% month-to-month, respectively. Meanwhile, Saint John and Gatineau reported a 72% and 82% decrease in the number of their total monthly SAAR starts over the same period.<\/p>\n<p style=\"text-align: justify;\">When analyzing Canadian housing starts as a long-term trend, starts grew in June. CMHC reported that the trend in housing starts was 258,295 units last month, an increase from 252,444 units in May.<\/p>\n<p style=\"text-align: justify;\">The trend measure is a six-month moving average of the monthly SAAR of housing starts. CMHC says that it uses the trend measure as a \u201ccomplement\u201d to the monthly SAAR of housing starts to account for changes in monthly estimates and to gain a better picture of upcoming new housing supply. Analyzing only SAAR data can be misleading as the multi-unit segment that largely drives the market can change significantly on a monthly basis.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2022\/07\/canada-records-starts-june.html\" target=\"_blank\" rel=\"noopener\">Canada Records Over 273,000 Housing Starts in June as Starts Remain &#8220;Historically&#8221; High<\/a> by Michelle McNally | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The number of new homes being built in Canada dropped slightly between May and June, but housing start levels remain at a high. New data released by the Canada Mortgage &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2022\/07\/canadian-housing-starts-remain-historically-high\/\">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-20288","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>Canadian Housing Starts Remain &quot;Historically&quot; High &#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\/07\/canadian-housing-starts-remain-historically-high\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canadian Housing Starts Remain &quot;Historically&quot; High &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The number of new homes being built in Canada dropped slightly between May and June, but housing start levels remain at a high. New data released by the Canada Mortgage &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\\\/07\\\/canadian-housing-starts-remain-historically-high\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/07\\\/canadian-housing-starts-remain-historically-high\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Canadian Housing Starts Remain &#8220;Historically&#8221; High\",\"datePublished\":\"2022-07-25T17:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/07\\\/canadian-housing-starts-remain-historically-high\\\/\"},\"wordCount\":459,\"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\\\/07\\\/canadian-housing-starts-remain-historically-high\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/07\\\/canadian-housing-starts-remain-historically-high\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/07\\\/canadian-housing-starts-remain-historically-high\\\/\",\"name\":\"Canadian Housing Starts Remain \\\"Historically\\\" High &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2022-07-25T17:10:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/07\\\/canadian-housing-starts-remain-historically-high\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/07\\\/canadian-housing-starts-remain-historically-high\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/07\\\/canadian-housing-starts-remain-historically-high\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Canadian Housing Starts Remain &#8220;Historically&#8221; High\"}]},{\"@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":"Canadian Housing Starts Remain \"Historically\" High &#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\/07\/canadian-housing-starts-remain-historically-high\/","twitter_card":"summary_large_image","twitter_title":"Canadian Housing Starts Remain \"Historically\" High &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"The number of new homes being built in Canada dropped slightly between May and June, but housing start levels remain at a high. New data released by the Canada Mortgage &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\/07\/canadian-housing-starts-remain-historically-high\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/07\/canadian-housing-starts-remain-historically-high\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Canadian Housing Starts Remain &#8220;Historically&#8221; High","datePublished":"2022-07-25T17:10:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/07\/canadian-housing-starts-remain-historically-high\/"},"wordCount":459,"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\/07\/canadian-housing-starts-remain-historically-high\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2022\/07\/canadian-housing-starts-remain-historically-high\/","url":"https:\/\/www.roryc.ca\/blog\/2022\/07\/canadian-housing-starts-remain-historically-high\/","name":"Canadian Housing Starts Remain \"Historically\" High &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2022-07-25T17:10:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2022\/07\/canadian-housing-starts-remain-historically-high\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2022\/07\/canadian-housing-starts-remain-historically-high\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2022\/07\/canadian-housing-starts-remain-historically-high\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Canadian Housing Starts Remain &#8220;Historically&#8221; High"}]},{"@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\/20288","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=20288"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/20288\/revisions"}],"predecessor-version":[{"id":20289,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/20288\/revisions\/20289"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=20288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=20288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=20288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}