REGISTERED AND ENROLLED NEW HOMES The COVID-19 pandemic has considerably affected both the residential construction industry and home buyer behaviour. Although residential construction was considered an essential service in B.C., the industry has been impacted by new public health requirements and supply chain instability. At 31,957 registered new homes 2 recorded, 2020 was the lowest since 2014 when 30,079 were registered. Of the 31,957 registered new homes, 22,315 were in multi-unit buildings 3 and 9,642 were single detached homes 4 .
Figure 1: Share of Registered New Homes by Building Type, 2020
30.2%
70% Multi-units
69.8%
The total number of registered homes in 2020 was down 27.5% from 2019. The last time the total number of registered homes fell at a similar rate over a one-year period was from 2007 to 2008 during the Canadian housing market recession (a 34.2% decline) and then again from 2008 to 2009 (a 31.4% decline).
Single Detached Registered Homes Multi-unit Registered Homes
After increasing each year since 2009, the number of multi-unit homes declined by 37.0% in 2020 (22,315) compared to 2019 (35,400). As a proportion of total registrations, homes in multi-unit buildings accounted for 69.8%, down compared to 2019 when they accounted for 80.4%. The number of single detached homes registered in 2020 (9,642) was greater than in 2019 (8,650), which was the first time since 2016 that single
50,000
Figure 2: Number of Registered New Homes by Building Type, 2002-2020
45,000
40,000
35,000
30,000
31,957
25,000
20,000
15,000
10,000
5,000
0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Single Detached Registered Homes
Multi-unit Registered Homes
Total
2 Over time minor adjustments may be made to the figures as registrations are withdrawn or cancelled. New home registration data is accurate as of January 4, 2021. 3 Calculations of “registered new homes in multi - unit buildings” include new homes in multi -unit buildings (two or more dwelling units) enrolled with home warranty insurance, and new homes in multi-unit rental buildings which are exempt from home warranty insurance. 4 “Registered new single detached homes” refers to new single detached homes enroll ed with home warranty insurance or with Owner Builder Authorizations issued by the Registrar of BC Housing.
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