OTTAWA,
ON, July 16, 2024 /CNW/ - The total monthly
seasonally adjusted annual rate (SAAR) of housing starts for all
areas in Canada decreased 9% in
June (241,672 units) compared to May (264,929), according to the
Canada Mortgage and Housing Corporation (CMHC).
The six-month trend in housing starts decreased 0.4% from
248,260 units in May to 247,205 units in June. The trend measure is
a six-month moving average of the SAAR of total housing starts for
all areas in Canada.
The actual number of housing starts across Canada in urban centres of 10,000 population
and over was down 13% to 20,509 units in June compared to 23,518
units in June 2023. The
year-over-year decrease was driven by lower multi-unit starts, down
16%, while single-detached starts were similar to last June.
June's total actual housing starts were markedly lower in two of
Canada's three major cities
compared to June 2023, with
Toronto down 60% and Vancouver down 55%. Both cities recorded
significant declines in multi-unit construction. Montréal was up
significantly at 226%, due to much higher multi-unit activity.
Through the first half of 2024, Canada's six largest Census Metropolitan Areas
(CMAs) saw a modest 4% combined year-over-year increase from 2023,
driven by higher starts levels in Calgary, Edmonton, and Montréal which made up for
decreases in Vancouver,
Toronto, and Ottawa. Among the largest of the big six CMAs,
Vancouver and Toronto have seen apartment starts slow as
high interest rates and weak condominium pre-construction sales
appear to be affecting these centres negatively. Meanwhile,
Montréal has observed higher multi-unit construction this year,
with apartments starts up 63% from the 8-year low recorded in 2023.
Also of note is the higher construction activity in Calgary and Edmonton as starts increased across all
dwelling types, driving total starts up 38% and 67%
respectively.
CMHC's next Housing Supply Report, to be released in the Fall,
will examine these trends in greater detail. See Table 1 below for
more information.
Quote:
"The higher interest rate environment appears to have caught
up with some of Canada's major
centres as lower multi-unit starts, particularly in Vancouver and Toronto, drove both the SAAR and Trend down in
June. While strong starts growth in June and the first half 2024 in
Calgary, Edmonton, and Montréal mitigated some of these
decreases, we expect continued downward starts pressure across
Canada throughout 2024,"
said Bob Dugan, CMHC's Chief
Economist.
Key Facts:
- The monthly SAAR of total urban housing starts (centres with
population above 10,000) was 9% lower with 223,234 units recorded.
Multi-unit urban starts decreased 12% to 180,205 units, while
single-detached urban starts increased 2% to 43,029 units.
- The rural starts monthly SAAR estimate was 18,438 units.
- Total SAAR housing starts were up 23% in Montréal, driven by a
26% increase in multi-unit starts. Vancouver declined 13%, due to decreases in
multi-unit starts. Toronto
decreased 37% with multi-unit starts lower.
- Monthly Housing Starts and Other Construction Data are
accessible in English and French on our website and the CMHC
Housing Market Information Portal.
- Housing starts data is available on the eleventh business day
each month. We will release the July housing starts data on
August 15 at 8:15 AM ET.
- CMHC uses the trend measure as a complement to the monthly SAAR
of housing starts to account for considerable swings in monthly
estimates and to obtain a clearer picture of upcoming new housing
supply. In some situations, analyzing only SAAR data can be
misleading, as the multi-unit segment largely drives the market and
can vary significantly from one month to the next.
- Definitions and methodology to better understand the
foundations of the Starts and Completions and Market Absorption
surveys.
As a trusted source of housing information, CMHC provides
unbiased housing-related data, research, and market information to
help close knowledge gaps, and deepen understanding of complex
housing issues to inform future policy decisions.
Housing starts facilitate the analysis of monthly, quarterly,
and year-over-year activity in the new home market. The data we
collect as part of our Starts and Completions and Market Absorption
surveys helps us obtain a clearer picture of upcoming new housing
supply and is used as part of our various housing reports.
Follow us on X (formerly Twitter), YouTube, LinkedIn,
Facebook and Instagram.
Related Links:
- 2024 Rental Market Report
- 2024 Housing Market Outlook
- Spring 2024 Housing Supply Report
- Housing starts for May 2024
- Canada's potential capacity
for housing construction
|
Table 1: Housing
starts by dwelling type, first half of 2024, and year-over-year %
change, select CMAs*
|
|
|
|
|
|
|
|
|
|
|
|
|
Single-Detached
|
Semi-Detached
|
Row
|
Apartment
|
Total
|
|
Units
|
% change
|
Units
|
% change
|
Units
|
% change
|
Units
|
% change
|
Units
|
% change
|
|
Vancouver
|
1,057
|
-30 %
|
456
|
-19 %
|
842
|
-21 %
|
11,923
|
-17 %
|
14,278
|
-18 %
|
|
Calgary
|
3,343
|
33 %
|
1,080
|
34 %
|
1,481
|
16 %
|
5,274
|
50 %
|
11,178
|
38 %
|
|
Edmonton
|
2,958
|
42 %
|
606
|
59 %
|
1,302
|
32 %
|
3,582
|
120 %
|
8,448
|
67 %
|
|
Toronto
|
1,789
|
-21 %
|
156
|
34 %
|
2,088
|
-4 %
|
18,496
|
-13 %
|
22,529
|
-13 %
|
|
Ottawa
|
619
|
-7 %
|
42
|
-42 %
|
763
|
13 %
|
1,409
|
-35 %
|
2,833
|
-21 %
|
|
Montréal
|
518
|
6 %
|
128
|
33 %
|
239
|
72 %
|
8,488
|
63 %
|
9,373
|
58 %
|
|
Total
|
10,284
|
8 %
|
2,468
|
22 %
|
6,715
|
6 %
|
49,172
|
2 %
|
68,639
|
4 %
|
|
|
*Numbers in table are
inclusive of all housing tenures (i.e., freehold, condominium,
rental and co-op).
|
|
Source: CMHC
|
|
Housing Start Data
in Centres 10,000 Population and Over
|
|
|
Single-Detached
|
All
Others
|
Total
|
|
|
|
|
June 2023
|
June 2024
|
%
|
June
2023
|
June 2024
|
%
|
June
2023
|
June
2024
|
%
|
|
Provinces
(10,000+)
|
|
|
|
|
|
|
|
|
|
|
N.-L.
|
|
54
|
96
|
78
|
5
|
36
|
##
|
59
|
132
|
124
|
|
P.E.I.
|
|
13
|
6
|
-54
|
10
|
38
|
280
|
23
|
44
|
91
|
|
N.S.
|
|
201
|
178
|
-11
|
923
|
769
|
-17
|
1,124
|
947
|
-16
|
|
N.B.
|
|
145
|
124
|
-14
|
254
|
358
|
41
|
399
|
482
|
21
|
|
Atlantic
|
|
413
|
404
|
-2
|
1,192
|
1,201
|
1
|
1,605
|
1,605
|
-
|
|
Qc
|
|
454
|
434
|
-4
|
2,443
|
4,561
|
87
|
2,897
|
4,995
|
72
|
|
Ont.
|
|
1,491
|
1,142
|
-23
|
8,623
|
4,539
|
-47
|
10,114
|
5,681
|
-44
|
|
Man.
|
|
153
|
160
|
5
|
434
|
563
|
30
|
587
|
723
|
23
|
|
Sask.
|
|
89
|
154
|
73
|
483
|
217
|
-55
|
572
|
371
|
-35
|
|
Alta.
|
|
1,149
|
1,586
|
38
|
1,219
|
2,205
|
81
|
2,368
|
3,791
|
60
|
|
Prairies
|
|
1,391
|
1,900
|
37
|
2,136
|
2,985
|
40
|
3,527
|
4,885
|
39
|
|
B.C.
|
|
599
|
484
|
-19
|
4,776
|
2,859
|
-40
|
5,375
|
3,343
|
-38
|
|
Canada
(10,000+)
|
4,348
|
4,364
|
0
|
19,170
|
16,145
|
-16
|
23,518
|
20,509
|
-13
|
|
Metropolitan
Areas
|
|
|
|
|
|
|
|
|
|
|
Abbotsford-Mission
|
18
|
12
|
-33
|
53
|
29
|
-45
|
71
|
41
|
-42
|
|
Barrie
|
|
103
|
34
|
-67
|
363
|
38
|
-90
|
466
|
72
|
-85
|
|
Belleville - Quinte
West
|
24
|
19
|
-21
|
32
|
8
|
-75
|
56
|
27
|
-52
|
|
Brantford
|
|
53
|
4
|
-92
|
2
|
4
|
100
|
55
|
8
|
-85
|
|
Calgary
|
|
518
|
719
|
39
|
721
|
1,247
|
73
|
1,239
|
1,966
|
59
|
|
Chilliwack
|
|
20
|
11
|
-45
|
14
|
104
|
##
|
34
|
115
|
238
|
|
Drummondville
|
14
|
15
|
7
|
27
|
85
|
215
|
41
|
100
|
144
|
|
Edmonton
|
|
503
|
737
|
47
|
457
|
738
|
61
|
960
|
1,475
|
54
|
|
Fredericton
|
|
61
|
37
|
-39
|
81
|
43
|
-47
|
142
|
80
|
-44
|
|
Greater/Grand
Sudbury
|
2
|
0
|
-100
|
2
|
0
|
-100
|
4
|
0
|
-100
|
|
Guelph
|
|
5
|
7
|
40
|
136
|
30
|
-78
|
141
|
37
|
-74
|
|
Halifax
|
|
98
|
97
|
-1
|
887
|
695
|
-22
|
985
|
792
|
-20
|
|
Hamilton
|
|
33
|
19
|
-42
|
288
|
6
|
-98
|
321
|
25
|
-92
|
|
Kamloops
|
|
5
|
6
|
20
|
1
|
6
|
##
|
6
|
12
|
100
|
|
Kelowna
|
|
62
|
38
|
-39
|
322
|
572
|
78
|
384
|
610
|
59
|
|
Kingston
|
|
27
|
28
|
4
|
0
|
7
|
##
|
27
|
35
|
30
|
|
Kitchener-Cambridge-Waterloo
|
109
|
47
|
-57
|
54
|
538
|
##
|
163
|
585
|
259
|
|
Lethbridge
|
|
26
|
17
|
-35
|
2
|
15
|
##
|
28
|
32
|
14
|
|
London
|
|
27
|
77
|
185
|
214
|
129
|
-40
|
241
|
206
|
-15
|
|
Moncton
|
|
38
|
27
|
-29
|
164
|
197
|
20
|
202
|
224
|
11
|
|
Montréal
|
|
134
|
121
|
-10
|
774
|
2,841
|
267
|
908
|
2,962
|
226
|
|
Nanaimo
|
|
16
|
17
|
6
|
3
|
62
|
##
|
19
|
79
|
316
|
|
Oshawa
|
|
115
|
32
|
-72
|
60
|
214
|
257
|
175
|
246
|
41
|
|
Ottawa-Gatineau
|
236
|
184
|
-22
|
792
|
487
|
-39
|
1,028
|
671
|
-35
|
|
Gatineau
|
|
14
|
36
|
157
|
413
|
107
|
-74
|
427
|
143
|
-67
|
|
Ottawa
|
|
222
|
148
|
-33
|
379
|
380
|
0
|
601
|
528
|
-12
|
|
Peterborough
|
|
3
|
42
|
##
|
0
|
24
|
##
|
3
|
66
|
##
|
|
Québec
|
|
37
|
68
|
84
|
540
|
761
|
41
|
577
|
829
|
44
|
|
Red Deer
|
|
3
|
4
|
33
|
4
|
5
|
25
|
7
|
9
|
29
|
|
Regina
|
|
10
|
37
|
270
|
149
|
91
|
-39
|
159
|
128
|
-19
|
|
Saguenay
|
|
34
|
25
|
-26
|
14
|
24
|
71
|
48
|
49
|
2
|
|
St.
Catharines-Niagara
|
41
|
37
|
-10
|
132
|
33
|
-75
|
173
|
70
|
-60
|
|
Saint John
|
|
31
|
36
|
16
|
0
|
68
|
##
|
31
|
104
|
235
|
|
St. John's
|
|
50
|
86
|
72
|
5
|
33
|
##
|
55
|
119
|
116
|
|
Saskatoon
|
|
75
|
112
|
49
|
333
|
126
|
-62
|
408
|
238
|
-42
|
|
Sherbrooke
|
|
27
|
29
|
7
|
71
|
194
|
173
|
98
|
223
|
128
|
|
Thunder Bay
|
|
16
|
9
|
-44
|
4
|
6
|
50
|
20
|
15
|
-25
|
|
Toronto
|
|
370
|
324
|
-12
|
6,801
|
2,523
|
-63
|
7,171
|
2,847
|
-60
|
|
Trois-Rivières
|
|
10
|
17
|
70
|
267
|
80
|
-70
|
277
|
97
|
-65
|
|
Vancouver
|
|
350
|
300
|
-14
|
3,555
|
1,467
|
-59
|
3,905
|
1,767
|
-55
|
|
Victoria
|
|
25
|
22
|
-12
|
477
|
312
|
-35
|
502
|
334
|
-33
|
|
Windsor
|
|
31
|
58
|
87
|
25
|
305
|
##
|
56
|
363
|
##
|
|
Winnipeg
|
|
139
|
130
|
-6
|
428
|
549
|
28
|
567
|
679
|
20
|
|
Total
|
|
3,499
|
3,641
|
4
|
18,254
|
14,696
|
-19
|
21,753
|
18,337
|
-16
|
|
Data for 2023 and 2024
based on 2021 Census Definitions.
|
|
Source: CMHC
|
|
## not calculable /
extreme value
|
|
Housing Start Data -
Seasonally Adjusted at Annual Rates (SAAR)
|
|
|
Single-Detached
|
All
Others
|
Total
|
|
|
May 2024
|
June
2024
|
%
|
May 2024
|
June 2024
|
%
|
May 2024
|
June
2024
|
%
|
|
Provinces
(10,000+)
|
|
|
|
|
|
|
|
|
|
|
N.L.
|
|
579
|
727
|
26
|
133
|
402
|
202
|
712
|
1,129
|
59
|
|
P.E.I.
|
|
227
|
85
|
-63
|
1,200
|
456
|
-62
|
1,427
|
541
|
-62
|
|
N.S.
|
|
1,634
|
1,941
|
19
|
6,560
|
9,210
|
40
|
8,194
|
11,151
|
36
|
|
N.B.
|
|
1,023
|
916
|
-10
|
6,188
|
4,080
|
-34
|
7,211
|
4,996
|
-31
|
|
Qc
|
|
4,373
|
3,740
|
-14
|
44,042
|
43,164
|
-2
|
48,415
|
46,904
|
-3
|
|
Ont.
|
|
12,899
|
11,992
|
-7
|
71,198
|
53,102
|
-25
|
84,097
|
65,094
|
-23
|
|
Man.
|
|
1,543
|
1,644
|
7
|
1,128
|
6,756
|
499
|
2,671
|
8,400
|
214
|
|
Sask.
|
|
1,112
|
1,612
|
45
|
468
|
2,604
|
456
|
1,580
|
4,216
|
167
|
|
Alta.
|
|
14,520
|
15,496
|
7
|
33,315
|
26,346
|
-21
|
47,835
|
41,842
|
-13
|
|
B.C.
|
|
4,377
|
4,876
|
11
|
39,931
|
34,085
|
-15
|
44,308
|
38,961
|
-12
|
|
Canada
(10,000+)
|
42,287
|
43,029
|
2
|
204,163
|
180,205
|
-12
|
246,450
|
223,234
|
-9
|
|
Canada (All
Areas)
|
52,229
|
52,762
|
1
|
212,702
|
188,911
|
-11
|
264,929
|
241,672
|
-9
|
|
Metropolitan
Areas
|
|
Abbotsford-Mission
|
154
|
142
|
-8
|
1,500
|
348
|
-77
|
1,654
|
490
|
-70
|
|
Barrie
|
|
290
|
350
|
21
|
720
|
456
|
-37
|
1,010
|
806
|
-20
|
|
Belleville - Quinte
West
|
136
|
171
|
26
|
48
|
96
|
100
|
184
|
267
|
45
|
|
Brantford
|
|
250
|
142
|
-43
|
0
|
48
|
##
|
250
|
190
|
-24
|
|
Calgary
|
|
6,950
|
7,550
|
9
|
16,548
|
14,964
|
-10
|
23,498
|
22,514
|
-4
|
|
Chilliwack
|
|
148
|
142
|
-4
|
148
|
1,248
|
##
|
304
|
1,390
|
357
|
|
Drummondville
|
133
|
136
|
2
|
732
|
1,020
|
39
|
865
|
1,156
|
34
|
|
Edmonton
|
|
6,105
|
6,806
|
11
|
15,036
|
8,856
|
-41
|
21,141
|
15,662
|
-26
|
|
Fredericton
|
|
274
|
249
|
-9
|
768
|
516
|
-33
|
1,042
|
765
|
-27
|
|
Greater/Grand
Sudbury
|
30
|
14
|
-53
|
264
|
0
|
-100
|
294
|
14
|
-95
|
|
Guelph
|
|
101
|
53
|
-48
|
0
|
360
|
##
|
101
|
413
|
309
|
|
Halifax
|
|
759
|
684
|
-10
|
5,592
|
8,340
|
49
|
6,351
|
9,024
|
42
|
|
Hamilton
|
|
220
|
176
|
-20
|
5,148
|
72
|
-99
|
5,368
|
248
|
-95
|
|
Kamloops
|
|
188
|
82
|
-56
|
1,044
|
72
|
-93
|
1,232
|
154
|
-88
|
|
Kelowna
|
|
378
|
314
|
-17
|
12,240
|
6,864
|
-44
|
12,618
|
7,178
|
-43
|
|
Kingston
|
|
144
|
251
|
74
|
240
|
84
|
-65
|
384
|
335
|
-13
|
|
Kitchener-Cambridge-Waterloo
|
406
|
481
|
18
|
360
|
6,456
|
##
|
766
|
6,937
|
##
|
|
Lethbridge
|
|
438
|
155
|
-65
|
228
|
180
|
-21
|
666
|
335
|
-50
|
|
London
|
|
604
|
926
|
53
|
1,188
|
1,548
|
30
|
1,792
|
2,474
|
38
|
|
Moncton
|
|
211
|
207
|
-2
|
4,404
|
2,364
|
-46
|
4,615
|
2,571
|
-44
|
|
Montréal
|
|
1,283
|
893
|
-30
|
27,047
|
34,065
|
26
|
28,330
|
34,958
|
23
|
|
Nanaimo
|
|
147
|
179
|
22
|
144
|
744
|
417
|
291
|
923
|
217
|
|
Oshawa
|
|
907
|
274
|
-70
|
984
|
2,568
|
161
|
1,891
|
2,842
|
50
|
|
Ottawa-Gatineau
|
1,992
|
2,202
|
11
|
16,128
|
5,844
|
-64
|
18,120
|
8,046
|
-56
|
|
Gatineau
|
|
593
|
690
|
16
|
9,312
|
1,284
|
-86
|
9,905
|
1,974
|
-80
|
|
Ottawa
|
|
1,399
|
1,512
|
8
|
6,816
|
4,560
|
-33
|
8,215
|
6,072
|
-26
|
|
Peterborough
|
93
|
475
|
411
|
24
|
288
|
##
|
117
|
763
|
##
|
|
Québec
|
|
566
|
596
|
5
|
7,044
|
9,132
|
30
|
7,610
|
9,728
|
28
|
|
Red Deer
|
|
105
|
66
|
-37
|
60
|
60
|
-
|
165
|
126
|
-24
|
|
Regina
|
|
237
|
324
|
37
|
204
|
1,092
|
435
|
441
|
1,416
|
221
|
|
Saguenay
|
|
230
|
162
|
-30
|
132
|
288
|
118
|
362
|
450
|
24
|
|
St.
Catharines-Niagara
|
1,007
|
565
|
-44
|
2,232
|
396
|
-82
|
3,239
|
961
|
-70
|
|
Saint John
|
|
199
|
283
|
42
|
312
|
816
|
162
|
511
|
1,099
|
115
|
|
St. John's
|
|
512
|
616
|
20
|
132
|
396
|
200
|
644
|
1,012
|
57
|
|
Saskatoon
|
|
816
|
1,144
|
40
|
264
|
1,512
|
473
|
1,080
|
2,656
|
146
|
|
Sherbrooke
|
|
337
|
249
|
-26
|
1,080
|
2,328
|
116
|
1,417
|
2,577
|
82
|
|
Thunder Bay
|
158
|
66
|
-58
|
24
|
72
|
200
|
182
|
138
|
-24
|
|
Toronto
|
|
4,000
|
4,062
|
2
|
50,280
|
30,276
|
-40
|
54,280
|
34,338
|
-37
|
|
Trois-Rivières
|
225
|
101
|
-55
|
1,548
|
960
|
-38
|
1,773
|
1,061
|
-40
|
|
Vancouver
|
|
2,079
|
2,962
|
42
|
21,468
|
17,604
|
-18
|
23,547
|
20,566
|
-13
|
|
Victoria
|
|
328
|
285
|
-13
|
1,464
|
3,744
|
156
|
1,792
|
4,029
|
125
|
|
Windsor
|
|
367
|
462
|
26
|
1,032
|
3,660
|
255
|
1,399
|
4,122
|
195
|
|
Winnipeg
|
|
1,198
|
1,297
|
8
|
972
|
6,588
|
##
|
2,170
|
7,885
|
263
|
|
Data for 2023 and 2024
based on 2021 Census Definitions.
|
|
Source: CMHC
|
|
## not calculable /
extreme value
|
SOURCE Canada Mortgage and Housing Corporation (CMHC)