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.
The recent increase in starts is concentrated among multiple dwelling units. The growth in single dwelling unit starts was more moderate.
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.