Canada Housing Starts

Data Real Estate

Source: CMHC
Source Link: https://www.cmhc-schl.gc.ca/
Frequency: Monthly
Next Release(s): March 16th, 2026 8:15 AM

Latest Updates

January monthly housing starts key highlights:
- The trend in housing starts decreased by 3.5% in January with 254,794 units.
- The trend measure is a 6-month moving average of the monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.
- Actual housing starts were up 1% year-over-year in centres with a population of 10,000 or greater. 16,088 units were recorded in January 2026, compared to 15,957 units in January 2025.
- Vancouver recorded a 37% increase in actual starts due to higher multi-unit and single-detached starts.
- Toronto declined 2% due to lower single-detached starts.
- Montréal posted a 44% year-over-year decrease this month, driven by lower multi-unit and single-detached starts.
January Standalone Seasonally Adjusted Annual Rate (SAAR):
- The total monthly standalone seasonally adjusted annualized rate of housing starts for all areas in Canada was down 15% in January, at 238,049 units compared to 280,668 units in December. This highlights the volatility of month-over-month starts figures and the caution with which they should be interpreted.
- Rural starts were estimated at a seasonally adjusted annual rate of 20,485 units.
December monthly housing starts key highlights
- The trend in housing starts was flat at -0.1% in December with 264,428 units.
- The trend measure is a 6-month moving average of the monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.
- Actual housing starts were up 25% year-over-year in centres with a population of 10,000 or greater. 20,716 units were recorded in December 2025, compared to 16,531 units in 2024.
- Canada’s 6 largest Census Metropolitan Areas (CMAs) saw a combined 3.9% year-over-year increase from 2024. This was driven by record annual starts in Calgary and Edmonton, a 58% year-over-year increase in annual starts in Montréal and a 12% increase in Ottawa – Gatineau.
- These results made up for year-over-year decreases in Toronto (-31%) and Vancouver (-3%).
December Standalone Seasonally Adjusted Annual Rate (SAAR)
- The total monthly standalone seasonally adjusted annualized rate of housing starts for all areas in Canada was up 11% in December, at 282,439 units compared to 254,625 units in November.
- The seasonally adjusted annual rate of total urban housing starts in centres with populations of 10,000 or more increased by 12% in December. It totaled 270,168 units, compared to 241,814 units in November.
- Rural starts were estimated at a seasonally adjusted annual rate of 12,271 units.
November monthly housing starts key highlights:
- The trend in housing starts decreased by 1.7% in November to 264,445 units.
- The trend measure is a 6-month moving average of the monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.
- Actual housing starts were down 3% year-over-year in centres with a population of 10,000 or greater. 21,870 units were recorded in November 2025, compared to 22,501 units in November 2024.
- Montréal posted a 24% year-over-year increase in actual housing starts, driven by higher multi-unit and single-detached starts.
- Vancouver recorded a 1% decrease in starts due to fewer multi-unit and single-detached starts.
- Toronto declined 11% year-over-year, with both multi-unit and single-detached starts lower.
November Standalone Seasonally Adjusted Annual Rate (SAAR):
- The total monthly standalone seasonally adjusted annualized rate of housing starts for all areas in Canada was up 9.4% in November, at 254,058 units compared to 232,245 units in October.
- The seasonally adjusted annual rate of total urban housing starts in centres with populations of 10,000 or more increased by 11% in November. It totaled 233,573 units, compared to 210,338 units in October.
- Rural starts were estimated at a seasonally adjusted annual rate of 20,485 units.
October monthly housing starts key highlights:
- The trend in housing starts decreased by 3% in October to 268,907 units.
- The trend measure is a 6-month moving average of the monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.
- Actual housing starts were down 3% year-over-year in centres with a population of 10,000 or greater. 19,174 units were recorded in October 2025, compared to 19,763 units in October 2024.
- Montréal posted a 104% year-over-year increase in actual housing starts, driven by significantly higher multi-unit starts.
- Vancouver recorded a 36% decrease in starts due to fewer multi-unit starts.
- Toronto declined 42% year-over-year, with both multi-unit and single-detached starts considerably lower.
October Standalone Seasonally Adjusted Annual Rate (SAAR):
- The total monthly standalone seasonally adjusted rate of housing starts for all areas in Canada was down 17% in October, at 232,765 units compared to 279,174 units in September.
- The seasonally adjusted annual rate of total urban housing starts in centres with populations of 10,000 or more decreased by 17% in October. It totaled 210,703 units, compared to 255,179 units in September.
- Rural starts were estimated at a seasonally adjusted annual rate of 22,062 units.
September monthly housing starts key highlights:
- The trend in housing starts increased by 4.1% in September to 277,147 units.
- The trend measure is a 6-month moving average of the monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.
- Actual housing starts were up 19% year-over-year in centres with a population of 10,000 or greater. 22,375 units were recorded in September 2025, compared to 18,806 in September 2024.
- Montréal and Toronto posted 135% and 112% year-over-year increases in actual housing starts respectively, both driven by significantly higher multi-unit starts.
- Vancouver recorded a 1% decrease in starts.
September Standalone Seasonally Adjusted Annual Rate (SAAR):
- The total monthly standalone seasonally adjusted rate of housing starts for all areas in Canada was up 14% in September, at 279,234 units compared to 244,543 units in August.
- The seasonally adjusted annual rate of total urban housing starts in centres with populations of 10,000 or more increased by 16% in September. It reached 254,345 units, compared to 219,408 units in August.
- Rural starts were estimated at a seasonally adjusted annual rate of 24,889 units.
Canada’s total housing starts fell -16% MoM to a SAAR of 245.8k units in August 2025, but were up 10% YoY, reflecting strong gains in major centres despite monthly volatility.
- The 6-month trend measure of housing starts rose 1.6% to 267.3k units, showing steady underlying momentum.
- Actual housing starts in centres with 10k+ residents increased 10% YoY to 18,408 units (vs 16,775 in August 2024).
- Montréal posted a 32% YoY surge, led by significantly higher multi-unit activity.
- Vancouver recorded a 46% YoY increase, with gains in both multi-unit and single-detached starts.
- Toronto housing starts were broadly unchanged compared with August 2024.
- Urban starts fell -18% MoM to 223.7k units (SAAR), while rural starts were estimated at 22.1k units.
Canada’s total housing starts rose 4% MoM in July 2025 to a SAAR of 294.1k units, and were up 4% YoY, continuing the recent upward trend in residential construction.
- Urban housing starts increased 5% MoM to 273.6k units, while rural starts were estimated at 20.5k units.
- The 6-month trend measure climbed 3.7% to 263.1k units, indicating broad-based momentum.
- Actual starts in centres with 10,000+ residents rose 4% YoY to 23,464 units.
- Montréal saw a 212% YoY surge in starts, driven by a sharp rise in multi-unit activity.
- In contrast, Toronto housing starts plunged -69% YoY, reflecting declines in both multi-unit and single-detached segments.
Total housing starts in Canada up 0.4% MoM to a SAAR of 283.7k units in June, following 282.7k units in May. The 6-month trend measure rose 3.6% to 253.1k units.
- Urban SAAR was little changed at 261.7k units, while rural starts were estimated at 22.0k.
- Actual housing starts in centers with 10,000+ population rose 14% YoY to 23,282 units from 20,509 in June 2024.
- Vancouver starts surged 74% YoY, led by strong growth in multi-unit construction.
- Montréal starts fell -8% YoY due to fewer multi-unit projects.
- Toronto starts dropped -40% YoY, also driven by a decline in multi-unit activity.
Total housing starts in Canada were flat in May, down -0.2% MoM to a SAAR of 279.5k units, beating expectations of 248k. The 6-month trend measure edged up 0.8% to 243.4k units.
- Urban SAAR held nearly flat at 259.8k, while rural starts were estimated at 19.7k.
- Actual housing starts in centers with 10,000+ population rose 9% YoY to 23,745 units, up from 21,814 in May 2024.
- Montréal starts rose 11% YoY, driven by increased multi-unit activity.
- Toronto starts fell -22% YoY and Vancouver dropped -10% YoY, both weighed down by lower multi-unit construction.
- Q3 and Q4 2024 revisions added a net 87 and 17 units, respectively, to prior totals.
Total housing starts in Canada rose 30% MoM to 278.6k units (vs 27.5k expected) in April 2025, up from 214.2k in March and the highest since mid-2023.
- Urban housing starts rose 28% MoM to 259.8k units, while rural starts were estimated at 18.8k.
- The 6-month moving average (trend measure) increased 2.4% to 240.9k units.
- Actual starts in population centers (10k+) were up 17% YoY to 21,720 units.
- Montréal saw a 64% YoY jump in starts, driven by multi-unit projects; Vancouver rose 6% YoY, while Toronto fell -25% YoY due to a drop in multi-unit activity.
Total housing starts in Canada fell -3.3% MoM to 214.2k in March, below expectations of around 242k and the lowest since August 2024.
- Total urban starts fell -2.8% MoM to 203.3k, and total rural starts fell to 10.9k.
- The 6-month moving average fell -0.7% MoM to 235k.
Total housing starts in Canada fell -4% MoM to 229k in February, below expectations of about 250k housing starts.
- This is the lowest monthly total since September 2024.
- Urban housing starts fell -5% MoM to 210k, and rural starts totaled 19k.
- The 6-month moving average of housing starts was up 1.1% MoM to 239k.