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February 19, 2025HOUSING STARTS, JANUARY 2025 Monthly (January 2025 vs December 2024, seasonally adjusted annualized rate)
Nova Scotia’s housing starts (seasonally adjusted annualized rate) totalled 8,725 units in January 2025. This was a 45.2% increase from the previous month's revised value of 6,007.
Housing starts in Halifax rose to a seasonally adjusted annualized rate of 6,442 units in January 2025, up 71.8% from 3,749 units in December 2024.
Outside of Halifax, housing starts rose to a seasonally adjusted annualized rate of 2,283 units in January 2025, up 1.1% from 2,258 units in December 2024.
Across Canada, housing starts rose to a seasonally adjusted annualized rate of 239,739 units in January 2025, up 3.1% from 232,492 units reported in December 2024.
Housing starts were up in five provinces last month, with the fastest percentage gain in Prince Edward Island. New Brunswick reported the sharpest monthly decline in housing starts. (Note: monthly changes in seasonally adjusted annualized housing starts are often volatile).
Year-over-year (January 2025 vs January 2024, seasonally adjusted annualized rate)
Nova Scotia's housing starts were up 26.9% compared with 6,874 units pace in January 2024. Halifax housing starts were up 49.2% from their rate in January 2024 (4,319). Housing starts outside the city were down 10.6% year-over-year from their pace in January 2024 (2,555). Across Canada, housing starts were up 3.7% year-over-year in January 2025 with gains in six provinces. Prince Edward Island reported the largest year-over-year gain in housing starts in January. New Brunswick reported the steepest decline in housing starts year-over-year.
In unadjusted results for Halifax in January 2025, there were 511 housing starts and 52 completions. The stock of units under construction rose to 10,759 units in Halifax from the previous month, up 20.5% from units under construction in the same month last year (8,932).
Source: Statistics Canada, Table 34-10-0158-01 Canada Mortgage and Housing Corporation, housing starts, all areas, Canada and provinces, seasonally adjusted at annual rates, monthly (x 1,000) ; Table 34-10-0156-01 Canada Mortgage and Housing Corporation, housing starts in all centres 10,000 and over, Canada, provinces, and census metropolitan areas, seasonally adjusted at annual rates, monthly (x 1,000)
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