Housing starts in the Vancouver Census Metropolitan Area (CMA) were 16,324 in May, compared with 16,370 in April – a drop of less than a third of a percentage point – according to Canada Mortgage and Housing Corp. data released this morning.
The trend measures a six-month moving average of seasonally adjusted monthly housing starts.
Using standalone monthly data only, there were 14,690 starts in May, compared with 17,986 in April – a drop of 18%.
“Total housing starts in the Vancouver CMA continue to trend lower this month as declines in townhome and apartment starts offset increases in single-detached housing starts,” said CMHC senior market analyst for Vancouver Lance Jakubec.
