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Canada  + Alberta & Prairies + Ontario + Pacific Canada + Quebec  + Apartments  | 
Canadian housing starts fell 9% in April, says a new Canada Mortgage and Housing Corporation report.

Canadian Housing Starts Fall 7%

Canadian housing starts fell 7% in March, says a new Canada Mortgage and Housing Corporation report.

On a seasonally adjusted basis, total housing starts declined to 242,195 units in March from 260,047 in February, according to the federal housing agency.

But on an actual basis, housing starts increased 16% year-over-year to 17,052 units from 14,756 units. Multi-unit residential building starts jumped 19%, while single-detached home starts were up just 2%.

Vancouver and Toronto drove the actual increases as their starts rose 15% and 10%, respectively, year-over-year, due to higher multi-unit development starts. Single-family detached home starts declined in both Vancouver and Toronto.

Montreal’s actual starts dipped 1% year-over-year due to lower multi-unit project starts.

The figures come after CMHC forecasted that Canadian housing starts will decline in 2024 due to a reduction in rental residential construction projects. The forecast was published in CMHC’s latest Housing Market Outlook (HMO).


Inside The Story

CMHCBob Dugan

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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