Canada Housing Starts

Data Real Estate

Source: CMHC
Source Link: https://www.cmhc-schl.gc.ca/
Frequency: Monthly
Next Release(s): September 16th, 2025 8:15 AM

Latest Updates

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.
Canadian housing starts increased 3% MoM to 239.7k in January, below expectations of a 251k annual rate. Total urban housing starts were up 3% MoM to 220,643.