The six-month trend in housing starts increased (3.7%) in July (263,088 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 4% year-over-year in centres with a population of 10,000 or greater, with 23,464 units recorded in July, compared to 22,610 units in July 2024. The year-to-date total was 137,875, up 4% from the same period in 2024, said the federal agency in a report released Monday.
The total monthly SAAR of housing starts for all areas in Canada was up 4% in July (294,085 units) compared to June (283,523 units), it added.
Tania Bourassa-Ochoa
“Through the first seven months of the year, actual housing starts have remained above 2024 levels, primarily driven by increased multi-unit starts in the Prairie Provinces and Québec. These persistently elevated national results are reflective of investment decisions made months or even years ago, highlighting the influence of previous market conditions and builder sentiment on current construction trends,” said Tania Bourassa-Ochoa, CMHC’s Deputy Chief Economist.
Key Facts:
- The monthly SAAR for Canada’s centres with a population of 10,000 or greater was up 5% in July (273,618 units) compared to June (261,171 units).
- The rural starts monthly SAAR estimate was 20,467 units.
- Among Canada’s big three cities, Vancouver recorded a 24% increase in starts this month, driven by higher multi-unit starts. Montreal posted a 212% year-over-year increase in actual housing starts, driven by significantly higher multi-unit starts. A decrease in multi-unit and single-detached starts drove the 69% year-over-year decrease in Toronto’s housing starts compared to July 2024.
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 and 2025.
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