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Housing starts declined in May

Ottawa, June 15, 2023

The trend in housing starts has been declining steadily since November 2022. In May, the trend was 230,205 units, down 4.2% from 240,318 units in April. The trend measure is a six-month moving average of the monthly SAAR of total housing starts for all areas in Canada.

The standalone monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada declined 23% in May (202,494 units) compared to April (261,357 units) according to Canada Mortgage and Housing Corporation (CMHC).

The monthly SAAR of total urban starts (centres 10,000 population and over) declined 24%, with 182,842 units recorded in May. Multi-unit urban starts declined 30% to 139,890 units, while single-detached urban starts increased 6% to 42,952 units.

The Vancouver, Toronto, and Montreal CMAs all recorded declines in total SAAR housing starts in May, with Vancouver down 45%, Toronto down 28%, and Montreal down 35%. All three recorded increases in single-detached starts that were offset by large decreases in multi-unit starts.

The rural starts monthly SAAR estimate was 19,652 units.

Quote:

We observed declines in both the SAAR and the trend of housing starts in May. The decline in housing starts is due to constraints in new construction, including labour shortages and higher construction and borrowing costs, which is considerably affecting multi-unit starts. Despite this, starts have only declined to the relatively high levels observed prior to 2020,” said Bob Dugan, CMHC's Chief Economist.

Key facts:

  • Monthly Housing Starts and Other Construction Data are accessible in English and French on our website and the CMHC Housing Market Information Portal.
  • Housing starts data is available on the eleventh business day each month. We will release the May housing starts data on July 18 at 8:15 AM ET.
  • CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a clearer picture of upcoming new housing supply. In some situations, analyzing only SAAR data can be misleading, as the multi-unit segment largely drives the market and can vary significantly from one month to the next.
  • Definitions and methodology to better understand the foundations of the Starts and Completions and Market Absorption surveys.

As a trusted source of housing information, CMHC provides unbiased housing-related data, research, and market information to help close knowledge gaps, and deepen understanding of complex housing issues to inform future policy decisions. Housing starts facilitate the analysis of monthly, quarterly, and year-over-year activity in the new home market. The data we collect as part of our Starts and Completions and Market Absorption surveys helps us obtain a clearer picture of upcoming new housing supply and is used as part of our various housing reports.

For more information, follow us on Twitter, YouTube, LinkedIn, Facebook and Instagram.

Additional information:

  • Spring 2023 Housing Market Outlook (PDF)
  • Latest Housing Supply Report (HSR) 
  • Housing Supply Report (HSR) — Fall Edition
  • The road ahead for the economy and housing — fall 2022 update
  • Canada’s housing supply shortage: skilled labour capacity
  • Understanding Canada's housing supply shortages

For information on this release:

To request an interview with a CMHC market analyst, contact:

Media Relations, CMHC
media@cmhc-schl.gc.ca

May Housing Starts in Canada — All areas

Housing Start Data in Centres 10,000 Population and Over (Provinces)
  Single-Detached All Others Total
May 2022 May 2023 % May 2022 May 2023 % May 2022 May 2023 %
N.-L. 82 30 -63 15 10 -33 97 40 -59
P.E.I. 39 5 -87 39 9 -77 78 14 -82
N.S. 140 104 -26 735 212 -71 875 316 -64
N.B. 142 74 -48 566 281 -50 708 355 -50
Atlantic 403 213 -47 1,355 512 -62 1,758 725 -59
Qc 813 448 -45 4,842 1,677 -65 5,655 2,125 -62
Ont. 2,040 1,392 -32 5,504 4,435 -19 7,544 5,827 -23
Man. 219 158 -28 314 437 39 533 595 12
Sask. 153 87 -43 226 135 -40 379 222 -41
Alta. 1,374 1,047 -24 2,542 2,094 -18 3,916 3,141 -20
Prairies 1,746 1,292 -26 3,082 2,666 -13 4,828 3,958 -18
B.C. 683 563 -18 2,594 2,691 4 3,277 3,254 -1
Canada (10,000+) 5,685 3,908 -31 17,377 11,981 -31 23,062 15,889 -31

Data for 2022 based on 2016 Census Definitions and data for 2023 based on 2021 Census Definitions.

Source: CMHC

## not calculable / extreme value

Housing Start Data in Centres 10,000 Population and Over (Metropolitan Areas)
  Single-Detached All Others Total
May 2022 May 2023 % May 2022 May 2023 % May 2022 May 2023 %
Abbotsford – Mission 43 28 -35 47 157 234 90 185 106
Barrie 85 89 5 38 36 -5 123 125 2
Belleville – Quinte West 59 24 -59 12 4 -67 71 28 -61
Brantford 101 68 -33 261 63 -76 362 131 -64
Calgary 525 512 -2 1,244 1,564 26 1,769 2,076 17
Chilliwack 38 18 -53 58 59 2 96 77 -20
Drummondville 21 15 -29 66 45 -32 87 60 -31
Edmonton 640 423 -34 1,131 435 -62 1,771 858 -52
Fredericton 44 11 -75 151 22 -85 195 33 -83
Greater / Grand Sudbury 14 8 -43 16 10 -38 30 18 -40
Guelph 12 6 -50 6 5 -17 18 11 -39
Halifax 97 29 -70 717 144 -80 814 173 -79
Hamilton 81 29 -64 79 63 -20 160 92 -43
Kamloops 16 6 -63 30 3 -90 46 9 -80
Kelowna 68 32 -53 111 120 8 179 152 -15
Kingston 42 22 -48 153 9 -94 195 31 -84
Kitchener – Cambridge – Waterloo 102 76 -25 109 142 30 211 218 3
Lethbridge 24 1 -96 20 0 -100 44 1 -98
London 145 44 -70 375 199 -47 520 243 -53
Moncton 51 29 -43 298 152 -49 349 181 -48
Montréal 214 90 -58 2,730 710 -74 2,944 800 -73
Nanaimo 32 19 -41 16 46 188 48 65 35
Oshawa 49 40 -18 321 126 -61 370 166 -55
Ottawa – Gatineau 358 161 -55 957 268 -72 1,315 429 -67
Gatineau 40 22 -45 507 75 -85 547 97 -82
Ottawa 318 139 -56 450 193 -57 768 332 -57
Peterborough 20 6 -70 0 10 ## 20 16 -20
Québec 74 51 -31 610 243 -60 684 294 -57
Red Deer 4 9 125 13 18 38 17 27 59
Regina 33 17 -48 79 24 -70 112 41 -63
Saguenay 42 13 -69 22 24 9 64 37 -42
St. Catharines – Niagara 122 140 15 141 82 -42 263 222 -16
Saint John 42 23 -45 115 80 -30 157 103 -34
St. John's 75 25 -67 14 6 -57 89 31 -65
Saskatoon 112 62 -45 146 84 -42 258 146 -43
Sherbrooke 36 18 -50 214 72 -66 250 90 -64
Thunder Bay 8 5 -38 0 0 - 8 5 -38
Toronto 432 325 -25 2,879 3,227 12 3,311 3,552 7
Trois-Rivières 36 21 -42 72 51 -29 108 72 -33
Vancouver 275 291 6 1,769 1,977 12 2,044 2,268 11
Victoria 55 50 -9 275 83 -70 330 133 -60
Windsor 45 25 -44 94 44 -53 139 69 -50
Winnipeg 191 138 -28 250 423 69 441 561 27
Total 4,463 2,999 -33 15,639 10,830 -31 20,102 13,829 -31

Data for 2022 based on 2016 Census Definitions and data for 2023 based on 2021 Census Definitions.

Source: CMHC

## not calculable / extreme value

Housing Start Data — Seasonally Adjusted at Annual Rates (SAAR) (Provinces — 10,000+)
  Single-Detached  All Others Total
April 2023 May 2023 % April 2023 May 2023 % April 2023 May 2023 %
N.L. 385 319 -17 76 35 -54 461 354 -23
P.E.I. 205 39 -81 504 108 -79 709 147 -79
N.S. 1,730 1,579 -9 2,426 2,539 5 4,156 4,118 -1
N.B. 936 794 -15 3,888 3,084 -21 4,824 3,878 -20
Qc 3,904 3,967 2 25,180 18,496 -27 29,084 22,463 -23
Ont. 14,940 15,505 4 95,820 52,202 -46 110,760 67,707 -39
Man. 1,784 1,772 -1 2,244 5,244 134 4,028 7,016 74
Sask. 945 851 -10 1,464 1,620 11 2,409 2,471 3
Alta. 9,769 11,919 22 17,115 24,552 43 26,884 36,471 36
B.C. 5,812 6,207 7 52,479 32,010 -39 58,291 38,217 -34
Canada (10,000+) 40,410 42,952 6 201,196 139,890 -30 241,606 182,842 -24
Canada (All Areas) 54,180 55,967 3 207,177 146,528 -29 261,357 202,494 -23

Data for 2022 based on 2016 Census Definitions and data for 2023 based on 2021 Census Definitions.

Source: CMHC

## not calculable / extreme value

Housing Start Data — Seasonally Adjusted at Annual Rates (SAAR) (Metropolitan Areas)
  Single-Detached All Others Total
April 2023 May 2023 % April 2023 May 2023 % April 2023 May 2023 %
Abbotsford – Mission 290 266 -8 132 1,884 ## 422 2,150 409
Barrie 1,695 981 -42 4,896 432 -91 6,591 1,413 -79
Belleville – Quinte West 103 149 45 624 48 -92 727 197 -73
Brantford 1,148 610 -47 396 756 91 1,544 1,366 -12
Calgary 4,601 5,641 23 8,604 18,768 118 13,205 24,409 85
Chilliwack 49 230 369 49 708 ## 193 938 386
Drummondville 105 95 -10 228 540 137 333 635 91
Edmonton 4,028 4,805 19 7,656 5,220 -32 11,684 10,025 -14
Fredericton 316 113 -64 48 264 450 364 377 4
Greater / Grand Sudbury 125 97 -22 48 120 150 173 217 25
Guelph 63 72 14 0 60 ## 63 132 110
Halifax 462 320 -31 2,160 1,728 -20 2,622 2,048 -22
Hamilton 207 248 20 6,528 756 -88 6,735 1,004 -85
Kamloops 65 57 -12 1,752 36 -98 1,817 93 -95
Kelowna 528 402 -24 744 1,440 94 1,272 1,842 45
Kingston 312 274 -12 2,832 108 -96 3,144 382 -88
Kitchener – Cambridge – Waterloo 609 781 28 636 1,704 168 1,245 2,485 100
Lethbridge 125 12 -90 96 0 -100 221 12 -95
London 316 427 35 2,280 2,388 5 2,596 2,815 8
Moncton 160 213 33 2,076 1,824 -12 2,236 2,037 -9
Montréal 752 841 12 13,566 8,502 -37 14,318 9,343 -35
Nanaimo 340 187 -45 204 552 171 544 739 36
Oshawa 499 349 -30 4,908 1,512 -69 5,407 1,861 -66
Ottawa – Gatineau 1,461 1,561 7 15,252 3,216 -79 16,713 4,777 -71
Gatineau 212 329 55 5,364 900 -83 5,576 1,229 -78
Ottawa 1,249 1,232 -1 9,888 2,316 -77 11,137 3,548 -68
Peterborough 126 68 -46 192 120 -38 318 188 -41
Québec 550 455 -17 3,828 2,916 -24 4,378 3,371 -23
Red Deer 68 103 51 252 216 -14 320 319 0
Regina 229 177 -23 480 288 -40 709 465 -34
Saguenay 214 107 -50 600 288 -52 814 395 -51
St. Catharines – Niagara 625 1,465 134 1,032 984 -5 1,657 2,449 48
Saint John 244 208 -15 1,668 960 -42 1,912 1,168 -39
St. John's 379 301 -21 72 72 - 451 373 -17
Saskatoon 606 542 -11 624 1,008 62 1,230 1,550 26
Sherbrooke 193 185 -4 1,332 864 -35 1,525 1,049 -31
Thunder Bay 80 79 -1 0 0 - 80 79 -1
Toronto 4,033 4,077 1 55,512 38,724 -30 59,545 42,801 -28
Trois-Rivières 153 158 3 792 612 -23 945 770 -19
Vancouver 2,952 3,415 16 46,500 23,724 -49 49,452 27,139 -45
Victoria 417 622 49 564 996 77 981 1,618 65
Windsor 237 256 8 168 528 214 405 784 94
Winnipeg 1,475 1,553 5 2,016 5,076 152 3,491 6,629 90

Data for 2022 based on 2016 Census Definitions and data for 2023 based on 2021 Census Definitions.

Source: CMHC

## not calculable / extreme value

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Date Published: June 15, 2023

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