The seasonally adjusted annual rate for housing starts in Canada was down by a scant 0.2% in May, with 279,510 units compared to the 280,181 units in April.
According to data from the Canada Mortgage and Housing Corporation (CMHC), actual housing starts were up 9% year-over-year in markets with a population of 10,000 or greater, with 23,745 units recorded in May, compared to 21,814 units in May 2024. The year-to-date total was 90,767, up 1% from the same period in 2024.
Among Canada’s big three cities, Montreal posted an 11% year-over-year increase in actual housing starts compared to May 2024, driven by more multi-unit starts. Vancouver recorded a 10% decrease in starts, driven primarily by lower multi-unit starts. A decrease in multi-unit starts also drove the 22% year-over-year decrease in Toronto’s housing starts compared to one year earlier.
“Growth in actual starts activity in May was once again driven by increases of single-detached homes and purpose-built rentals in Quebec and the Prairie provinces,” said Tania Bourassa-Ochoa, CMHC’s deputy chief economist. “By contrast, weak condominium market conditions in Toronto and Vancouver have contributed to significant declines in overall housing starts in these regions, in line with our recent analysis on these markets.”
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