The six-month trend in housing starts was lower in March, with a decrease of 2.9% to 248,378 units, according to Canada Mortgage and Housing Corporation (CMHC). The trend measure is a six-month moving average of the seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.
Actual housing starts were up 10% year-over-year in centres with a population of 10,000 or greater, with 16,398 units recorded in March, compared to 14,935 units in March 2025. The year-to-date total was 49,206 units, up 9% from the same period in 2025, driven by higher starts to begin the year in British Columbia, Ontario and Quebec, said the organization’s most recent report.
The total monthly SAAR of housing starts for all areas in Canada decreased 6% in March (235,852 units) compared to February (250,961 units), it said.
Mathieu Laberge
“March housing starts data point to a continued loss of momentum in housing construction, broadly in line with CMHC’s housing market outlook. While actual starts increased compared to a year ago, this largely reflects the exceptionally low level of construction activity in the first quarter of last year,” said Mathieu Laberge, CMHC’s Chief Economist and Senior Vice‑President, Housing Insights.
“Monthly housing starts can be volatile and difficult to reconcile with conditions experienced by builders and developers on the ground. This is why we are providing new analysis this month on the relationship between building permits and housing starts, as well as the release of new data on non‑market housing starts.”
Canada’s Construction Pulse: Permits Lead, Starts Confirm
This new analysis from CMHC’s Chief Economist, Mathieu Laberge, examines the roles of housing starts and building permits in the residential construction continuum. Housing starts are a key indicator of residential construction in Canada, showing the volume of construction in progress and how much new housing supply is expected in the coming years. Building permits signal where housing starts activity is headed, offering greater insight into current market conditions. Taken together, the two measures provide a more complete picture of the trajectory of the residential construction market, explained the CMHC.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
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