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Housing starts for February 2024

Ottawa, March 15, 2024

The total monthly seasonally adjusted annual rate (SAAR) of housing starts for all areas in Canada increased 14% in February (253,468 units) compared to January (223,176), according to Canada Mortgage and Housing Corporation (CMHC).

The six-month trend in housing starts increased from 244,638 units in January to 245,665 units in February for a slight 0.4% gain. The trend measure is a six-month moving average of the SAAR of total housing starts for all areas in Canada.

The actual number of housing starts across Canada in urban centres of 10,000 population and over was up 11% to 17,495 units in February compared to 15,822 units in February 2023. The year-over-year increase was driven solely by higher multi-unit starts, up 16%. Single-detached starts decreased 14% in February.

February’s actual housing starts were 10% and 82% higher year-over-year in Toronto and Vancouver, respectively, because of higher multi-unit starts, while single-detached starts decreased. Montreal’s actual starts decreased 9%, as both housing segments were lower.

Quote:

“Following two consecutive monthly declines, both the SAAR and Trend of housing starts increased in February. This was due to growth in actual year-over-year starts, driven by higher multi-unit starts, particularly in Toronto and Vancouver. As the national housing shortage continues, the focus for developers continues to shift towards multi-unit construction in Canada’s major centres,” said Bob Dugan, CMHC’s Chief Economist.

Key Facts:

  • The monthly SAAR of total urban (centres 10,000 population and over) housing starts increased 15%, with 238,633 units recorded. Multi-unit urban starts increased 20% to 196,392 units, while single-detached urban starts decreased 2% to 42,241 units.
  • The rural starts monthly SAAR estimate was 14,835 units.
  • Total SAAR housing starts were up 79% in Vancouver and 15% in Toronto, driven by significant increases in multi-unit starts. Montreal declined 31% due to sizeable decreases in both single-detached and multi-unit starts.
  • 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 March housing starts data on April 16 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 to 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.

CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to all levels of governments, consumers and the housing industry.

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Additional information:

  • 2024 Rental Market Report
  • December 2023 Housing Starts: Housing starts down 7% in 2023 from 2022
  • CMHC 2023: Housing reports retrospective

For information on this release:

To request an interview with a CMHC economist, contact:
Media Relations, CMHC
media@cmhc-schl.gc.ca

February housing starts in Canada — all areas

Housing Start Data in Centres 10,000 Population and Over (Provinces)
Province Single-Detached All Others Total
February 2023 February 2024 % February 2023 February 2024 % February 2023 February 2024 %
N.-L. 13 15 15 0 2 ## 13 17 31
P.E.I. 8 1 -88 16 10 -38 24 11 -54
N.S. 79 86 9 204 877 330 283 963 240
N.B. 26 24 -8 11 289 ## 37 313 ##
Atlantic 126 126 - 231 1,178 410 357 1,304 265
Qc 190 178 -6 2,148 1,667 -22 2,338 1,845 -21
Ont. 1,169 637 -46 5,811 5,851 1 6,980 6,488 -7
Man. 117 127 9 551 208 -62 668 335 -50
Sask. 33 49 48 436 175 -60 469 224 -52
Alta. 794 981 24 1,429 2,698 89 2,223 3,679 65
Prairies 944 1,157 23 2,416 3,081 28 3,360 4,238 26
B.C. 375 306 -18 2,412 3,314 37 2,787 3,620 30
Canada (10,000+) 2,804 2,404 -14 13,018 15,091 16 15,822 17,495 11

Data for 2023 and 2024 based on 2021 Census Definitions.

Source: CMHC Starts and Completion Survey, Market Absorption Survey

## not calculable / extreme value

Housing Start Data in Centres 10,000 Population and Over (Metropolitan Areas)
Metropolitan Area Single-Detached All Others Total
February 2023 February 2024 % February 2023 February 2024 % February 2023 February 2024 %
Abbotsford – Mission 18 5 -72 77 56 -27 95 61 -36
Barrie 42 20 -52 144 8 -94 186 28 -85
Belleville – Quinte West 7 16 129 29 70 141 36 86 139
Brantford 30 11 -63 53 8 -85 83 19 -77
Calgary 391 460 18 847 1,214 43 1,238 1,674 35
Chilliwack 10 15 50 5 8 60 15 23 53
Drummondville 3 3 - 30 37 23 33 40 21
Edmonton 330 434 32 541 1,208 123 871 1,642 89
Fredericton 8 8 - 7 0 -100 15 8 -47
Greater/Grand Sudbury 6 28 367 0 0 - 6 28 367
Guelph 5 2 -60 339 96 -72 344 98 -72
Halifax 16 40 150 171 837 389 187 877 369
Hamilton 23 15 -35 72 191 165 95 206 117
Kamloops 2 10 400 1 9 ## 3 19 ##
Kelowna 15 28 87 455 310 -32 470 338 -28
Kingston 29 20 -31 20 16 -20 49 36 -27
Kitchener – Cambridge – Waterloo 93 20 -78 320 148 -54 413 168 -59
Lethbridge 5 16 220 6 8 33 11 24 118
London 31 20 -35 17 192 ## 48 212 342
Moncton 3 3 - 0 168 ## 3 171 ##
Montréal 49 49 - 839 759 -10 888 808 -9
Nanaimo 11 9 -18 105 4 -96 116 13 -89
Oshawa 23 17 -26 28 60 114 51 77 51
Ottawa – Gatineau 123 62 -50 954 525 -45 1,077 587 -45
  Gatineau 60 35 -42 524 108 -79 584 143 -76
  Ottawa 63 27 -57 430 417 -3 493 444 -10
Peterborough 4 3 -25 0 0 - 4 3 -25
Québec 27 29 7 497 280 -44 524 309 -41
Red Deer 5 1 -80 5 166 ## 10 167 ##
Regina 9 10 11 170 62 -64 179 72 -60
Saguenay 10 8 -20 10 22 120 20 30 50
St. Catharines – Niagara 74 61 -18 285 87 -69 359 148 -59
Saint John 6 9 50 0 118 ## 6 127 ##
St. John's 13 15 15 0 2 ## 13 17 31
Saskatoon 23 36 57 239 88 -63 262 124 -53
Sherbrooke 5 18 260 31 18 -42 36 36 -
Thunder Bay 0 1 ## 0 0 - 0 1 ##
Toronto 468 237 -49 3,758 4,412 17 4,226 4,649 10
Trois-Rivières 4 2 -50 34 130 282 38 132 247
Vancouver 211 142 -33 1,280 2,566 100 1,491 2,708 82
Victoria 31 31 - 269 244 -9 300 275 -8
Windsor 18 10 -44 197 4 -98 215 14 -93
Winnipeg 103 111 8 507 195 -62 610 306 -50
Total 2,284 2,035 -11 12,342 14,326 16 14,626 16,361 12

Data for 2023 and 2024 based on 2021 Census Definitions.

Source: CMHC Starts and Completion Survey, Market Absorption Survey

## not calculable / extreme value

Housing Start Data — Seasonally Adjusted at Annual Rates (SAAR) (Provinces — 10,000+)
Province Single-Detached All Others Total
January 2024 February 2024 % January 2024 February 2024 % January 2024 February 2024 %
N.L. 650 620 -5 565 82 -85 1,215 702 -42
P.E.I. 435 44 -90 804 120 -85 1,239 164 -87
N.S. 1,781 1,773 0 4,420 10,547 139 6,201 12,320 99
N.B. 952 1,107 16 2,695 3,975 47 3,647 5,082 39
Qc 4,873 4,993 2 34,088 29,549 -13 38,961 34,542 -11
Ont. 12,539 11,321 -10 66,767 74,938 12 79,306 86,259 9
Man. 1,796 1,920 7 2,268 2,496 10 4,064 4,416 9
Sask. 1,220 948 -22 2,028 2,100 4 3,248 3,048 -6
Alta. 14,245 14,930 5 26,411 32,733 24 40,656 47,663 17
B.C. 4,764 4,585 -4 24,188 39,852 65 28,952 44,437 53
Canada (10,000+) 43,255 42,241 -2 164,234 196,392 20 207,489 238,633 15
Canada (All Areas) 54,361 52,833 -3 168,814 200,638 19 223,176 253,468 14

Data for 2023 and 2024 based on 2021 Census Definitions.

Source: CMHC Starts and Completion Survey, Market Absorption Survey

## not calculable / extreme value

Housing Start Data — Seasonally Adjusted at Annual Rates (SAAR) (Metropolitan Areas)
Metropolitan Area Single-Detached All Others Total
January 2024 February 2024 % January 2024 February 2024 % January 2024 February 2024 %
Abbotsford – Mission 310 77 -75 936 672 -28 1,246 749 -40
Barrie 462 541 17 96 96 - 558 637 14
Belleville – Quinte West 222 384 73 0 840 ## 222 1,224 451
Brantford 338 256 -24 0 96 ## 338 352 4
Calgary 7,455 7,013 -6 17,568 14,568 -17 25,023 21,581 -14
Chilliwack 130 211 62 130 96 -26 142 307 116
Drummondville 101 105 4 12 444 ## 113 549 386
Edmonton 4,879 5,955 22 5,292 14,496 174 10,171 20,451 101
Fredericton 285 367 29 84 0 -100 369 367 -1
Greater / Grand Sudbury 4 26,163 ## 24 0 -100 28 26,163 ##
Guelph 26 39 50 0 1,152 ## 26 1,191 ##
Halifax 831 923 11 3,468 10,044 190 4,299 10,967 155
Hamilton 733 239 -67 2,448 2,292 -6 3,181 2,531 -20
Kamloops 21 259 ## 12 108 ## 33 367 ##
Kelowna 230 498 117 1,284 3,720 190 1,514 4,218 179
Kingston 393 432 10 24 192 ## 417 624 50
Kitchener – Cambridge – Waterloo 276 214 -22 2,004 1,776 -11 2,280 1,990 -13
Lethbridge 292 283 -3 1,056 96 -91 1,348 379 -72
London 476 314 -34 1,860 2,304 24 2,336 2,618 12
Moncton 294 250 -15 1,140 2,016 77 1,434 2,266 58
Montréal 1,372 1,147 -16 13,752 9,238 -33 15,124 10,385 -31
Nanaimo 357 154 -57 2,124 48 -98 2,481 202 -92
Oshawa 471 382 -19 3,744 720 -81 4,215 1,102 -74
Ottawa – Gatineau 2,425 1,087 -55 3,696 6,300 70 6,121 7,387 21
  Gatineau 190 511 169 2,172 1,296 -40 2,362 1,807 -23
  Ottawa 2,235 576 -74 1,524 5,004 228 3,759 5,580 48
Peterborough 182 147 -19 0 0 - 182 147 -19
Québec 562 564 0 6,456 3,360 -48 7,018 3,924 -44
Red Deer 81 13 -84 72 1,992 ## 153 2,005 ##
Regina 95 189 99 1,320 744 -44 1,415 933 -34
Saguenay 1,162 546 -53 216 264 22 1,378 810 -41
St. Catharines – Niagara 1,144 1,058 -8 456 1,044 129 1,600 2,102 31
Saint John 339 370 9 1,080 1,416 31 1,419 1,786 26
St. John's 528 472 -11 432 24 -94 960 496 -48
Saskatoon 1,075 783 -27 552 1,056 91 1,627 1,839 13
Sherbrooke 279 391 40 804 216 -73 1,083 607 -44
Thunder Bay 4 1,035 ## 72 0 -100 76 1,035 ##
Toronto 4,200 3,503 -17 44,688 52,944 18 48,888 56,447 15
Trois-Rivières 142 142 - 1,056 1,560 48 1,198 1,702 42
Vancouver 2,205 2,054 -7 16,104 30,792 91 18,309 32,846 79
Victoria 191 391 105 2,052 2,928 43 2,243 3,319 48
Windsor 214 168 -21 2,352 48 -98 2,566 216 -92
Winnipeg 1,467 1,642 12 2,052 2,340 14 3,519 3,982 13

Data for 2023 and 2024 based on 2021 Census Definitions.

Source: CMHC Starts and Completion Survey, Market Absorption Survey

## not calculable / extreme value

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Date Published: March 15, 2024

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