Highlights from ‘Housing Starts, October 2024’
The following statistics were released from the Economics and Statistics Division on November 20, 2024. For full details from this dataset, please click here.
Monthly (October 2024 vs September 2024, seasonally adjusted annualized rate)
- Nova Scotia’s housing starts (seasonally adjusted annualized rate) totalled 4,908 units in October 2024
- This was a 7.6% increase from the previous month’s revised value
- Housing starts in Halifax declined to a seasonally adjusted annualized rate of 2,145 units in October 2024, down 17.5% from September 2024
- Outside of Halifax, housing starts rose to a seasonally adjusted annualized rate of 2,763 units in October 2024, up 41.0% from September 2024
Year-over-year (October 2024 vs October 2023, seasonally adjusted annualized rate)
- Nova Scotia’s housing starts were down 51.2% compared with 10,065 unit pace set in October 2023
- Halifax housing starts were down 73.1% from their rate in October 2023
- Housing starts outside the city were up 31.6% year-over-year from their pace in October 2023
- Nova Scotia reported the largest year-over-year decline in housing starts in October
Year-to-date (January-October 2024 vs January-October 2023, seasonally adjusted annualized rate)
- Over the first ten months of 2024, Nova Scotia’s housing starts were up 18.6% compared with the same period in 2023
- Halifax starts were up 29.6% while starts outside the city decreased by 0.6%
- Across Canada, year-to-date housing starts down slightly (-0.1%) even though there were gains in seven provinces