VANCOUVER, June 8, 2016 — Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 28,267 units in May compared to 27,304 units in April, 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.

“Housing starts are trending higher than last month in all home types,” said Robyn Adamache, CMHC Principal Market Analyst for Vancouver. “So far this year, actual single-detached and multiple starts have outpaced last year’s totals for the period in response to low inventories of unsold new homes and high demand for ownership and rental housing.”

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 23,611 units in May, down from 32,876 units in April due to a decrease in multiple-family home starts.

Housing starts in the Abbotsford-Mission CMA were trending at 1,291 units in May, up from 1,278 units in April as construction increased for single and semi-detached homes.

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:

Jeanette Wilkinson
604-737-4007
jpwilkins@cmhc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate
Source: CMHC

Preliminary Housing Start Data
May 2016
Vancouver CMA1April 2016May 2016
Trend227,30428,267
SAAR32,87623,611
May 2015May 2016
Actual
May — Single-detached400528
May — Multiples1,0811,483
May — Total1,4812,011
January to May — Single-detached1,7722,183
January to May — Multiples5,9959,660
January to May — Total7,76711,843
Preliminary Housing Start Data
May 2016
Abbotsford-Mission CMA1April 2016May 2016
Trend21,2781,291
SAAR7801,391
May 2015May 2016
Actual
May — Single-detached2849
May — Multiples1160
May — Total39109
January to May — Single-detached113219
January to May — Multiples131340
January to May — Total244559

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR). By removing seasonal ups and downs, seasonal adjustment allows for comparison of adjacent months and quarters. The monthly and quarterly SAAR and trend figures indicate the annual level of starts that would be obtained if the same pace of monthly or quarterly construction activity was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.
Detailed data available upon request

Vancouver CMA Preliminary Actual Housing Starts Data
May / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Anmore VL330033
Belcarra VL000000
Bowen Island IM020103
Burnaby CY212027354855
Coquitlam CY133211192451
Delta DM511415926
First Nations / Premières nations000000
Greater Vancouver A RDA000000
Langley CY010001
Langley DM18324316861200
Lions Bay VL000000
Maple Ridge CY29650272992
New Westminster CY63096699
North Vancouver CY66190222196228
North Vancouver DM13170101327
Pitt Meadows CY110011
Port Coquitlam CY74312386
Port Moody CY11140151
Richmond CY3940158719747
Surrey CY115100102217217317
Vancouver CY108163487661595824
West Vancouver DM922801722
White Rock CY6563128
CMA Total4005281,0811,4831,4812,011

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
May / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Abbotsford CY16347602394
First Nations / Premières nations000000
Mission DM1215401615
CMA Total2849116039109

Source: CMHC

Vancouver CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Anmore VL890089
Belcarra VL010001
Bowen Island IM350136
Burnaby CY1091443431,2994521,443
Coquitlam CY96158150667246825
Delta DM44475966103113
First Nations / Premières nations02200022
Greater Vancouver A RDA3124602491
Langley CY42014416
Langley DM103116421448524564
Lions Bay VL000000
Maple Ridge CY176225121170297395
New Westminster CY1124035111375
North Vancouver CY1431496579510610
North Vancouver DM5360131528184588
Pitt Meadows CY98380478
Port Coquitlam CY12171374214959
Port Moody CY571471914
Richmond CY165174667766832940
Surrey CY3914401,6248182,0151,258
Vancouver CY4925921,5223,7462,0144,338
West Vancouver DM5282105762139
White Rock CY22181610138119
CMA Total1,7722,1835,9959,6607,76711,843

Source: CMHC

Abbotsford – Mission CMA Preliminary Actual Housing Starts Data
Year to Date / 2015 – 2016
SinglesMultiplesTotal
201520162015201620152016
Abbotsford CY57139127319184458
First Nations / Premières nations000000
Mission DM568042160101
CMA Total113219131340244559

Source: CMHC

Date Published: June 8, 2016