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March 15, 2022HOUSING STARTS, FEBRUARY 2022 
Nova Scotia’s housing starts (seasonally adjusted annualized rate) totalled 3,435 units in February 2022, down 53.4% from January 2022.
Housing starts in Halifax decreased 68.0% to a seasonally adjusted annualized rate of 1,840 units in February 2022. Outside of Halifax, housing starts were down 1.2% to a seasonally adjusted annualized rate of 1,595 units.
Since 2018, Nova Scotia's housing starts have reported periods of elevated activity: summer and fall of 2018, summer and fall of 2019, summer 2020 through spring 2021, and in the fall of 2021. These increases in the 6 month moving average of housing starts largely reflect activity in the Halifax market. Outside Halifax, there have been three different periods of elevated housing starts: spring through fall of 2018, fall 2019 through spring 2020 and winter through fall 2021. In recent months housing starts are increasing in Halifax while decreasing in outside of Halifax.
In urban areas, housing starts for multiples are generally higher than for singles with greater variability in the six-month moving average of seasonally adjusted annualized rates. The six-month moving average for both singles and multiples increased in early 2021 and then slowed over the summer. In the fall of 2021, there was renewed growth in starts for both single dwelling and multiple units. In recent months growth has been flat in starts for single dwelling units.
In Canada, housing starts increased 7.9% from January 2022 to 247,256 units in February 2022 (seasonally adjusted annualized rate). Housing starts were up in five provinces with the largest increase reported in Saskatchewan (+64.7%). Housing starts were down in four provinces in February 2022, led by Nova Scotia (-53.4%). Housing starts remained same in Manitoba.
During the first two months of 2022, Nova Scotia’s housing starts were down 10.4% compared to the same period in 2021. Halifax housing starts decreased 1.8% and starts outside the city were down 25.8%. Canada’s housing starts decreased 18.2%. All provinces reported declines except Alberta, with the largest decreases in Prince Edward Island and Quebec.
Note: Urban areas are defined as areas over 10,000 people
Source: Statistics Canada, Table 34-10-0135-01 Canada Mortgage and Housing Corporation, housing starts, under construction and completions, all areas, quarterly; 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)
Annual table: Statistics Canada, Table 34-10-0126-01 Canada Mortgage and Housing Corporation, housing starts, under construction and completions, all areas, annual
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