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Vancouver State of Market

Vancouver Housing Starts Take a Dip

A slight increase in single-family home starts was offset by decreased activity in apartment construction, leading to a sharp decline in housing starts in the Vancouver CMA in February. There were 17,470 units launched last month, down considerably from 19,673 units in January, and the second consecutive month starts have trended lower, according to Canada Mortgage and Housing Corp. Nationwide, housing starts fell in February to the lowest level since 2009, with fewer new condo and multi-residential projects leading to a 16% drop, according to CMHC.

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