Housing starts in Metro Vancouver slipped slightly in September, according to Canada Mortgage and Housing Corp. (CMHC)
September’s seasonally adjusted housing starts put the region on track for 20,239, CMHC reported October 9.
That is down, however, from August’s pace of 20,465 home starts.
“Full-time employment gains have supported housing demand so far in 2012,” said Robyn Adamache, who is CMHC’s senior market analyst for Vancouver.
The lion’s share of the province’s housing starts are in the Lower Mainland.
B.C.-wide, home builders are on track to start 26,893 units if the seasonally adjusted pace of the last six months holds up for the remainder of the year.
CMHC calculates seasonally adjusted figures by giving each month a value based on historic trends for how much it outperforms or underperforms the average month. It then takes the number of new home starts and multiplies it by this weighted figure and then by 12.
