The seasonally adjusted annualized rate of Canadian housing starts in November was up 9.4% in November (254,058 units) compared to October (232,245 units), according to data from the Canada Mortgage and Housing Corporation (CMHC). The year-to-date total was 219,077 units, up 4% from the same period in 2024.
However, housing starts were down 3% year-over-year in centers with a population of 10,000 or greater, compared to 22,501 units in November 2024. The annual pace of rural starts was estimated at 20,485 units.
Among Canada’s big three cities, Montreal posted a 24% year-over-year increase in actual housing starts this month 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 while Toronto saw an 11% decline due to lower levels of multi-unit and single-detached starts.
Kevin Hughes, CMHC’s deputy chief economist, observed, “On a year-to-date basis, starts are still elevated compared to last year and remain on pace to surpass the 2024 total. Regional differences are driving this outcome, with Ontario and BC below their 2024 housing starts levels, while the Prairie provinces, Quebec and the Atlantic provinces have all pushed national year-to-date starts higher.”
