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June 15, 2022HOUSING STARTS, MAY 2022 
Nova Scotia’s housing starts (seasonally adjusted annualized rate) totalled 12,300 units in May 2022, the highest monthly housing starts units on record since January 1990. This was up 280.2% from the revised estimate of 3,235 units in April 2022.
Housing starts in Halifax increased to a seasonally adjusted annualized rate of 9,708 units in May 2022, the highest monthly housing starts units on record since January 1990. Outside of Halifax, housing starts were up to a seasonally adjusted annualized rate of 2,592 units.
Notwithstanding a dip in the previous three months, Nova Scotia's housing starts have trended up since mid-2021 (rebounding from a decline early in that year). Starts in Halifax largely explain this trend as starts outside Halifax have remained relatively stable.
The recent increase in starts is concentrated among multiple dwelling units. The growth in single dwelling unit starts was more moderate.
In Canada, housing starts increased 8.1% from April 2022 to 287,257 units in May 2022 (seasonally adjusted annualized rate). Housing starts were up last month in five provinces with the largest increase reported in Nova Scotia. Monthly housing starts were down in five provinces in May 2022, with the biggest decline in Saskatchewan.
During the first five months of 2022, Nova Scotia’s housing starts were up 1.4% compared to the same period in 2021. Halifax housing starts increased 8.2% and starts outside the city were down 10.2%. Canada’s housing starts decreased 12.4%. Starts were up in five provinces led by Newfoundland and Labrador and New Brunswick. Saskatchewan reported the largest decline in housing starts.
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)
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