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August 16, 2022HOUSING STARTS, JULY 2022 
Nova Scotia’s housing starts (seasonally adjusted annualized rate) totalled 7,962 units in July 2022, up 37.3% from the revised estimate of 5,800 units in June 2022.
Housing starts in Halifax increased to a seasonally adjusted annualized rate of 5,865 units in July 2022. Outside of Halifax, housing starts were up to a seasonally adjusted annualized rate of 2,097 units.
While the six month moving average of housing starts has retreated from a peak in early 2022, the trend in housing starts has been to be move higher compared to last few years. Halifax largely explain this trend as starts outside Halifax have remained relatively stable.
The recent decrease in the 6 month moving average for starts is concentrated among multiple dwelling units. The growth in single dwelling unit starts was more moderate.
In Canada, housing starts increased 1.1% from June 2022 to 275,329 units in July 2022 (seasonally adjusted annualized rate). Housing starts were up last month in six provinces with the largest increase reported in Nova Scotia. Monthly housing starts were down in four provinces in July 2022, with the largest decline in Saskatchewan.
During the first seven months of 2022, Nova Scotia’s housing starts were up 13.4% compared to the same period in 2021. Halifax housing starts increased 36.6% and starts outside the city were down 20.4%. Canada’s housing starts decreased 10.0%. Starts were up in five provinces led by Newfoundland and Labrador and Alberta. Prince Edward Island 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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