{"id":3944,"date":"2016-11-10T10:10:31","date_gmt":"2016-11-10T18:10:31","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=3944"},"modified":"2016-11-09T20:31:29","modified_gmt":"2016-11-10T04:31:29","slug":"vancouver-housing-starts-fall-to-lowest-level-since-2011-in-october","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/11\/vancouver-housing-starts-fall-to-lowest-level-since-2011-in-october\/","title":{"rendered":"Vancouver Housing Starts Fall to Lowest Level Since 2011 in October"},"content":{"rendered":"<p style=\"text-align: justify;\">Housing starts in Vancouver dropped 52% year-over-year in October, according to Canada Mortgage and Housing Corporation data released November 8.<\/p>\n<p style=\"text-align: justify;\">A total of 12,023 homes were started in the area, which was a decrease of 67% compared with the 36,803 starts in September. The decline was driven by a 77% total decrease in starts of attached homes. Starts of single-detached homes fell 17.4% in the month to 4,847.<\/p>\n<p style=\"text-align: justify;\">Across the province, housing starts fell to 25,517 in October, down 26% year-over-year from 34,413 starts in October 2015.<\/p>\n<p style=\"text-align: justify;\">\u201cOctober\u2019s tally brings activity back down to the very stable\u2014and fundamentally supported\u2014range seen between 2010 and mid-2015, before activity broke out to the upside,\u201d said Robert Kavcic, senior economist and vice-president of economic research for BMO Capital Markets in a note to investors.<\/p>\n<p style=\"text-align: justify;\">\u201cWe\u2019ll see if this level of activity, particularly in Vancouver where starts fell to the lowest since 2011, holds in the months ahead in response to softening demand conditions.\u201d<\/p>\n<p style=\"text-align: justify;\">Dina Ignjatovic, economist at TD Economics, said the tax and mortgage regulations recently introduced by the federal government are taking the steam out of sales in both B.C. and Ontario.<\/p>\n<p style=\"text-align: justify;\">\u201cThis should filter through to homebuilding activity as well,\u201d Ignjatovic said. \u201cIndeed, following strong growth this year, we expect housing starts in BC and Ontario to record sizable declines next year.\u201d<\/p>\n<p><a href=\"https:\/\/www.biv.com\/article\/2016\/11\/vancouver-housing-starts-fall-lowest-level-2011-oc\/\" target=\"_blank\">CMHC : Vancouver Housing Starts Fall to Lowest Level Since 2011 in October<\/a> by Emma Crawford Hampel | Business in Vancouver<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Housing starts in Vancouver dropped 52% year-over-year in October, according to Canada Mortgage and Housing Corporation data released November 8. A total of 12,023 homes were started in the area, &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/11\/vancouver-housing-starts-fall-to-lowest-level-since-2011-in-october\/\">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-3944","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 Housing Starts Fall to Lowest Level Since 2011 in October &#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\/2016\/11\/vancouver-housing-starts-fall-to-lowest-level-since-2011-in-october\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver Housing Starts Fall to Lowest Level Since 2011 in October &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Housing starts in Vancouver dropped 52% year-over-year in October, according to Canada Mortgage and Housing Corporation data released November 8. 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