VANCOUVER, March 8, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 24,244 units in February compared to 20,825 units in January, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“With declining inventory of new homes on the market and strong activity in the resale market, developers ramped up housing starts of single-detached and multiple-family homes this month,” said Richard Sam, Market Analyst. “The actual monthly number of housing starts in the Vancouver CMA was the highest recorded over the past 25 years,” added Sam.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The standalone monthly SAAR was 37,233 units in February, up from 22,213 units in January. The increase was driven by a pick-up in single-detached, semi-detached and apartment starts.

Housing starts in the Abbotsford-Mission CMA were trending at 1,406 units in February, up from 1,208 units in January due to an increase single-detached and apartment starts.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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Media Contact:

Lisa Ono
604-737-4022
lono@cmhc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate
Source: CMHC

Preliminary Housing Start Data
February 2016
Vancouver CMA1January 2016February 2016
Trend220,82524,244
SAAR22,21337,233
February 2015February 2016
Actual
February — Single-detached327429
February — Multiples7152,595
February — Total1,0423,024
January to February — Single-detached630796
January to February — Multiples1,7243,989
January to February— Total2,3544,785

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).
Detailed data available upon request

Vancouver CMA Preliminary Actual Housing Starts Data
February / 2015 - 2016
SinglesMultiplesTotal
201520162015201620152016
Anmore VL030003
Belcarra VL010001
Bowen Island IM000000
Burnaby CY24216287586896
Coquitlam CY17466124278288
Delta DM10931414150
First Nations / Premières nations01400014
Greater Vancouver A RDA000000
Langley CY000000
Langley DM221325524765
Lions Bay VL000000
Maple Ridge CY344612344680
New Westminster CY21009219
North Vancouver CY25644669
North Vancouver DM1010181118
Pitt Meadows CY22120142
Port Coquitlam CY3746713
Port Moody CY120719
Richmond CY36232029456317
Surrey CY6085103130163215
Vancouver CY951103198904141,00
West Vancouver DM81900819
White Rock CY131326
Vancouver CMA Total3274297152,5951,0423,024

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
February / 2015 - 2016
SinglesMultiplesTotal
2015201620152016201201
Abbotsford CY6339473100106
First Nations / Premières nations000000
Mission DM10410171058
CMA Total16749490110164

Source: CMHC

Vancouver CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 - 2016
SinglesMultiplesTotal
201520162015201620152016
Anmore VL040004
Belcarra VL010001
Bowen Island IM010001
Burnaby CY396372916111979
Coquitlam CY346978335112404
Delta DM221435445758
First Nations / Premières nations01400014
Greater Vancouver A RDA10770780
Langley CY000000
Langley DM4337132121175158
Lions Bay VL000000
Maple Ridge CY6383269289175
New Westminster CY41401984212
North Vancouver CY315179237182252
North Vancouver DM1817338851105
Pitt Meadows CY43200243
Port Coquitlam CY3742164523
Port Moody CY220729
Richmond CY5353386301439354
Surrey CY123160186263309423
Vancouver CY1912024571,3686481,570
West Vancouver DM2434002434
White Rock CY331346
CMA Total6307961,7243,9892,3544,785

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 - 2016
SinglesMultiplesTotal
201520162015201620152016
Abbotsford CY134995193108242
First Nations / Premières nations000000
Mission DM13470181365
CMA Total269695211121307

Source: CMHC

Date Published: March 8, 2016