
In British Columbia, starts were down 6.7% in March, falling to 32.6k units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts rose 4.7% m/m to 8.1k units while multi-family starts declined 11.7% to 20.6k units. Starts in the province were 54.1% below the levels from March 2021. Starts were down by 2.9k units in Vancouver, 3.6k in Victoria, and 0.4k in Abbotsford, but rose 1.5k in Kelowna from last month. The 6-month moving average trend declined 1.5% to 39.6k in BC in March.

SOURCE: BCREA