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Housing starts up in Vancouver: CMHC

Housing starts in the Vancouver census metropolitan area were up in November compared with one month prior, according to Canada Mortgage and Housing Corporation (CMHC) data released December 9.
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Canada Mortgage and Housing Corporation, mortgage, Housing starts up in Vancouver: CMHC

Housing starts in the Vancouver census metropolitan area were up in November compared with one month prior, according to Canada Mortgage and Housing Corporation (CMHC) data released December 9.

Starts were trending at 20,018 in November – an increase of 2.7% compared with 19,477 in October.

"The pace of new construction remained steady, with most of the activity in the City of Vancouver, North Vancouver, and New Westminster," said Lance Jakubec, CMHC senior market analyst for Vancouver.

"Single-detached starts have trended higher, while the trend measure for multiple-family units has moved downward."

Housing starts in Abbotsford-Mission were trending at 747 units – a drop of 7.4% in November compared with October's 807 units.

CMHC uses a six-month moving average of seasonally-adjusted annual rates of housing starts.

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@EmmaCrawfordBIV