Monday, September 8, 2025

Canada’s Housing Starts Decline 9% In June

Canada’s housing market showed signs of cooling in June, with total housing starts dropping 9% to a seasonally adjusted annual rate of 241,672 units, down from 264,929 in May, according to data released by the Canada Mortgage and Housing Corporation.

The six-month trend in housing starts also saw a slight decrease of 0.4% to 247,205 units in June from 248,260 units in May. This trend measure, which uses a six-month moving average of the monthly SAAR, provides a more stable indicator of housing market activity.

Urban centres with populations over 10,000 experienced a significant year-over-year decline of 13% in actual housing starts, primarily driven by a 16% drop in multi-unit construction. Two of Canada’s major cities, Toronto and Vancouver, saw substantial decreases in housing starts compared to June 2023, with declines of 60% and 55% respectively. In contrast, Montreal bucked the trend with a remarkable 226% increase, largely due to heightened multi-unit activity.

Despite the overall decline, the first half of 2024 showed a modest 4% year-over-year increase in housing starts across Canada’s six largest Census Metropolitan Areas. This growth was primarily driven by stronger performance in Calgary, Edmonton, and Montreal, which offset decreases in Vancouver, Toronto, and Ottawa.

The divergent trends across major urban centers highlight the regional nature of Canada’s housing market. While high interest rates and weak condominium pre-construction sales appear to be negatively impacting Vancouver and Toronto, Montreal has seen a significant uptick in apartment starts, rebounding 63% from an 8-year low in 2023.


Information for this briefing was found via CMHC and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

Related News

Canada Revives Wartime Housing Program To Enable Faster Builds

In a bid to accelerate housing development and reduce construction timelines, the Canadian federal government...

Tuesday, December 12, 2023, 07:21:00 AM

Canada Falls Back Into $1.4 Billion Trade Deficit in May Amid Higher Imports

Canada’s trade balance jumped from a revised surplus of $462 million to a deficit of...

Saturday, July 3, 2021, 03:34:00 PM

Canada Ends Decade-Long Federal Hiring Spree With 10,000 Job Cuts

Canada’s federal government eliminated nearly 10,000 jobs over the past year, marking the first reduction...

Monday, May 26, 2025, 10:31:00 AM

Canada Pushes Back Net-Zero Electricity Grid Target to 2050

The federal government announced Tuesday it has delayed its target for achieving a net-zero electricity...

Thursday, December 19, 2024, 12:56:00 PM

Canadian Economy on a Path to Recovery, Labour Force Survey Data Suggests

As the coronavirus pandemic is starting to subside and restrictions and lockdowns are being lifted,...

Saturday, June 6, 2020, 04:17:00 PM