Canadian housing starts fell 0.8 per cent to 240,229 units in April at a seasonally adjusted annual rate (SAAR). Starts were down 8 per cent from the same month last year. Single-detached housing starts rose 2 per cent from last month to 53,895 units, while multi-family and others fell 2 per cent to 186,335 units (SAAR).

In British Columbia, starts fell 10 per cent from last month to 54,835 units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 11 per cent to 3,923 units while multi-family starts dropped 12 per cent to 48,609 units. Starts in the province were 10 per cent below the levels from April 2023. Compared to the same time last year, starts were up by 83 per cent in Kelowna, 69 per cent in Abbotsford, and 525 per cent in Victoria. In Vancouver, starts were down by 30 per cent from April of 2023. 

Link: https://mailchi.mp/bcrea/canadian-housing-starts-april-2024

For more information, please contact: Gino Pezzani.