Home construction drops in N.S.

New home construction dropped in Nova Scotia in late 2021 after a monthly high for new housing starts was reported in October.

In a recent news release from the provincial Department of Finance, numbers from Statistics Canada reported the number of new home starts dropped in November to a seasonally adjusted annualized rate of 7,441 units from 9,709 units started in October - a 23.4 per cent decrease.

However, during the first 11 months of 2021, Nova Scotia's housing starts were up 16.7 per cent compared to the same period in 2020.

Housing starts in Halifax in November dropped to a seasonally adjusted annualized pace of 5,505 units from 8,197 units in October, representing a 32.8 per cent drop.

Outside of Halifax, housing starts were up in November, with a seasonally adjusted annualized rate of 1,936 units started, compared to 1,512 units started in October - a 28 per cent jump.

New home construction increased by 10.3 per cent in Halifax during the first 11 months in 2021 compared to 2020. In the rest of the province, new home starts increased by 29.6 per cent compared to the previous year.