Latest News Stream - Housing Starts

Housing starts in Canada rose 3% month-over-month to a seasonally adjusted annual rate of 248,896 units in September 2026, up from a revised 242,223 units in August and above market expectations of 232,500 units. Rural starts were estimated at 18,094 units. Actual monthly housing starts were down 11% year-on-year in centres with a population of 10,000 or more, with 19,984 units recorded in September 2026. Montréal’s six-month trend fell 8% month-to-month, driven by lower multi-unit starts, while Vancouver rose 6% on higher multi-unit starts. Toronto’s trend was flat. Year-to-date housing starts totaled 170,964 units, down 4% from the same period in 2025. The six-month trend was virtually unchanged at 250,411 units.

Housing starts in the US decreased 2.6% month-over-month to a seasonally adjusted annualized rate of 1.275 million units in August 2026, the second consecutive decline and the lowest level since October last year, amid rising mortgage rates and constrained affordability. It compares with 1.309 million in July and forecasts of 1.31 million. Starts in the multi-family segment slumped 22.5% to 344 thousand while starts for single unit houses were up 7.6% to 918 thousand. Regionally, starts declined in the Northeast (-44.5% to 96 thousand), Midwest (-12% to 198 thousand) and the South (-1.3% to 658 thousand) but rose in the West (32.4% to 323 thousand).

Housing starts in Canada were largely flat month-over-month at a seasonally adjusted annual rate of 229 thousand units in August 2026, the lowest since March 2025 and below market forecasts of 240 thousand units. Rural starts were estimated at a seasonally adjusted annual rate of 11,224 units. Actual monthly housing starts were down 2% year-over-year in centres with populations of 10,000 or more, with a total of 17,691 units recorded in August 2026. Montréal’s six-month trend rose 6% month-to-month, driven by higher starts across all housing types. Vancouver also recorded a 6% increase, supported by stronger multi-unit starts. In Toronto, the trend was unchanged, as both single-detached and multi-unit starts remained flat.

Canada’s housing starts fell 5% in July to a seasonally adjusted annual rate of 229,074 units, down from 240,773 in June and below market expectations of 248,000 units. The rural starts estimate stood at 11,274 units. Actual monthly housing starts declined 19% year-on-year in centres with a population of 10,000 or more, with 18,834 units recorded in July 2026. Vancouver starts fell 42%, driven by lower multi-unit and single-detached starts, while Toronto starts declined 10% on weaker multi-unit construction. Montréal posted a 3% increase, supported by higher multi-unit starts. Year-to-date housing starts totaled 131,851 units, down 4% from the same period in 2025. The six-month trend was virtually unchanged in July, falling 0.5% to 247,377 units.

Housing starts in Canada declined 6% from the previous month to a seasonally adjust annual rate of 239 thousand units in June 2026, compared to a downwardly revised 253 thousand units in May and falling short of markets expectations of 258 thousand units. The number of building permits fell 1.1% compared to the previous month, while units under construction in centers with a population above 50 thousand was flat, edging up 0.2% over the month to 375,469 units. Meanwhile, completed contructions totalled 18,298 units, up 8.4% compared to May. By region, Vancouver recorded the last decrease, by 35%, due to lower multi-unit and single-detached starts. In contrast, the largest increase was recorded in Toronto, up 25%, due to higher multi-unit starts, followed by Montreal (10%).

Housing starts in Canada fell 6.1% from the previous month to a seasonally adjusted annual rate of 261.4 thousand in May 2026, well above market forcasts of 255.1 thousand units. Urban housing starts in centers with populations over 10,000 people fell to 247 thousand. In turn, rural starts were estimated to increase to 14,357 units. By major cities, the largest increase was recorded in Montreal at 18% year-on-year, with decreases in Vancouver (-7%) and Toronto (-12%). Meanwhile, the six-month moving average of housing starts, which smooths monthly volatility, remained mostly flat, increasing 0.5% to 258 thousand units.

Housing starts in Canada jumped 17% to an annualized 279,300 units in April 2026 from the previous month, well above market forecasts of 240,000 units. The reading marked the highest level of housing starts in four months, pointing to renewed strength in residential construction activity. Rural starts were estimated at 13,694 units. Meanwhile, the six-month moving average of housing starts, which smooths monthly volatility, rose 3.2% to 256,777 units.

Housing starts in Canada fell by 6% from the previous month to a seasonally adjusted annual rate of 235.9 thousand in March of 2026, contrasting with market expectations that it would rise further to 255 thousand. It was the lowest rate in five months. Starts in urban centers fell to 224 thousand, also the lowest in five months, while rural starts fell to a rate of 11.8 thousand units, the lowest in over one year.

Housing starts in Canada increased 4.5% in February 2026 to a seasonally adjusted annual rate of 250,900 units, up from 240,148 in January, below market expectations of 252,500 units. Rural starts were estimated at a seasonally adjusted annual rate of 20,400 units. Actual housing starts were up 10% year-over-year in centres with a population of 10,000 or greater. By province, Vancouver recorded a 60% increase in actual starts due to higher multi-unit and single-detached starts. Meanwhile, Toronto declined 28% due to lower multi-unit and single-detached starts.

Housing starts in Canada sank by 15% from the previous month to a seasonally adjusted of 238,049 in January of 2026, firmly below market expectations of 263,300, to mark the lowest rate in five months. Urban housing starts in centers with populations over 10,000 people fell by 18.7% to 218,182. In turn, rural starts were estimated at the 20,487 mark.

Housing starts in Canada rose by 11% from the previous month to a seasonally adjusted of 282,439 in December of 2025, firmly above market expectations of 260,000, to mark the highest rate in five months. Urban housing starts in centers with populations over 10,000 people rose by 12% to 270,168. In turn, rural starts were estimated at the 12,271 mark.