Canadian housing starts rose by 3 per cent to 239,739 units in January at a seasonally adjusted annual rate (SAAR). Starts were up 4 per cent from the same month last year. Single-detached housing starts were largely unchanged from last month at 57,299 units, while multi-family and other starts rose by 4 per cent to 182,443 (SAAR).

In British Columbia, starts fell by 13 per cent from last month to 41,136 units (SAAR) in all areas of the province. In areas of the province with 10,000 or more residents, single-detached starts rose by 12 per cent to 4,898 units, while multi-family starts fell by 17 per cent to 34,078 units month-over-month. Starts in the province were 33 per cent above the levels from January 2024. Compared with the same month last year, starts were up by 205 per cent in Kelowna, 208 per cent in Abbotsford, and 37 per cent in Vancouver, while being down by 98 per cent in Nanaimo and 42 per cent in Victoria. 

https://mailchi.mp/bcrea/canadian-housing-starts-january-2025

For more information, please contact: Gino Pezzani.