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.