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May 15, 2023HOUSING STARTS, APRIL 2023 Monthly (April 2023, seasonally adjusted annualized rate)
Nova Scotia’s housing starts (seasonally adjusted annualized rate) totalled 4,689 units in April 2023, up from the revised estimate of 4,084 units in March 2023. Housing starts in Halifax accelerated to a seasonally adjusted annualized rate of 2,630 units in April 2023, up from 2,308 in March 2023. Outside of Halifax, housing starts increased to a seasonally adjusted annualized rate of 2,059 units, up from 1,776 units in March 2023.
Across Canada, housing starts increased to a seasonally adjusted annualized rate of 261,559 units in April 2023, up from 213,780 units in March 2023. Housing starts were up in 7 of 10 provinces last month, with the largest percentage increase in New Brunswick and the largest percentage decrease in Manitoba.
Year-to-date (January-April 2023 vs January-April 2022)
During the first four months of 2023, Nova Scotia’s housing starts were down 3.5% compared to the same period in 2022. Halifax housing starts decreased 17.9% and starts outside the city were up 18.4%. Across Canada, housing starts were down 5.8% in January-April 2023 with declines in 8 of 10 provinces. Newfoundland and Labrador reported the largest percentage drop in housing starts while British Columbia reported the largest percentage gain.
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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