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Housing starts for June 2024

Ottawa, July 16, 2024

The total monthly seasonally adjusted annual rate (SAAR) of housing starts for all areas in Canada decreased 9% in June (241,672 units) compared to May (264,929), according to the Canada Mortgage and Housing Corporation (CMHC).

The six-month trend in housing starts decreased 0.4% from 248,260 units in May to 247,205 units in June. 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 down 13% to 20,509 units in June compared to 23,518 units in June 2023. The year-over-year decrease was driven by lower multi-unit starts, down 16%, while single-detached starts were similar to last June.

June’s total actual housing starts were markedly lower in two of Canada’s three major cities compared to June 2023, with Toronto down 60% and Vancouver down 55%. Both cities recorded significant declines in multi-unit construction. Montréal was up significantly at 226%, due to much higher multi-unit activity.

Through the first half of 2024, Canada’s six largest Census Metropolitan Areas (CMAs) saw a modest 4% combined year-over-year increase from 2023, driven by higher starts levels in Calgary, Edmonton, and Montréal which made up for decreases in Vancouver, Toronto, and Ottawa. Among the largest of the big six CMAs, Vancouver and Toronto have seen apartment starts slow as high interest rates and weak condominium pre-construction sales appear to be affecting these centres negatively. Meanwhile, Montréal has observed higher multi-unit construction this year, with apartments starts up 63% from the 8-year low recorded in 2023. Also of note is the higher construction activity in Calgary and Edmonton as starts increased across all dwelling types, driving total starts up 38% and 67% respectively.

CMHC's next Housing Supply Report, to be released in the Fall, will examine these trends in greater detail. See Table 1 below for more information.

Quote:

“The higher interest rate environment appears to have caught up with some of Canada’s major centres as lower multi-unit starts, particularly in Vancouver and Toronto, drove both the SAAR and Trend down in June. While strong starts growth in June and the first half 2024 in Calgary, Edmonton, and Montréal mitigated some of these decreases, we expect continued downward starts pressure across Canada throughout 2024,” said Bob Dugan, CMHC’s Chief Economist.

Key facts:

  • The monthly SAAR of total urban housing starts (centres with population above 10,000) was 9% lower with 223,234 units recorded. Multi-unit urban starts decreased 12% to 180,205 units, while single-detached urban starts increased 2% to 43,029 units.
  • The rural starts monthly SAAR estimate was 18,438 units.
  • Total SAAR housing starts were up 23% in Montréal, driven by a 26% increase in multi-unit starts. Vancouver declined 13%, due to decreases in multi-unit starts. Toronto decreased 37% with multi-unit starts lower.
  • 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 July housing starts data on August 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.

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Related links:

  • 2024 Rental Market Report
  • 2024 Housing Market Outlook
  • Spring 2024 Housing Supply Report
  • Housing starts for May 2024
  • Canada’s potential capacity for housing construction

Information on this release:

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

June housing starts in Canada — all areas

Table 1: Housing starts by dwelling type, first half of 2024, and year-over-year % change, select CMAs*
  Single-Detached Semi-Detached Row Apartment Total
  Units % change Units % change Units % change Units % change Units % change
Vancouver 1,057 -30% 456 -19% 842 -21% 11,923 -17% 14,278 -18%
Calgary 3,343 33% 1,080 34% 1,481 16% 5,274 50% 11,178 38%
Edmonton 2,958 42% 606 59% 1,302 32% 3,582 120% 8,448 67%
Toronto  1,789 -21% 156 34% 2,088 -4% 18,496 -13% 22,529 -13%
Ottawa 619 -7% 42 -42% 763 13% 1,409 -35% 2,833 -21%
Montréal 518 6% 128 33% 239 72% 8,488 63% 9,373 58%
Total 10,284 8% 2,468 22% 6,715 6% 49,172 2% 68,639 4%

*Numbers in table are inclusive of all housing tenures (i.e., freehold, condominium, rental and co-op).

Source: CMHC

Housing Start Data in Centres 10,000 Population and Over (Provinces)
  Single-Detached All Others Total
June 2023 June 2024 % June 2023 June 2024 % June 2023 June 2024 %
N.-L. 54 96 78 5 36 ## 59 132 124
P.E.I. 13 6 -54 10 38 280 23 44 91
N.S. 201 178 -11 923 769 -17 1,124 947 -16
N.B. 145 124 -14 254 358 41 399 482 21
Atlantic 413 404 -2 1,192 1,201 1 1,605 1,605 -
Qc 454 434 -4 2,443 4,561 87 2,897 4,995 72
Ont. 1,491 1,142 -23 8,623 4,539 -47 10,114 5,681 -44
Man. 153 160 5 434 563 30 587 723 23
Sask. 89 154 73 483 217 -55 572 371 -35
Alta. 1,149 1,586 38 1,219 2,205 81 2,368 3,791 60
Prairies 1,391 1,900 37 2,136 2,985 40 3,527 4,885 39
B.C. 599 484 -19 4,776 2,859 -40 5,375 3,343 -38
Canada (10,000+) 4,348 4,364 0 19,170 16,145 -16 23,518 20,509 -13

Data for 2023 and 2024 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
June 2023 June 2024 % June 2023 June 2024 % June 2023 June 2024 %
Abbotsford – Mission 18 12 -33 53 29 -45 71 41 -42
Barrie 103 34 -67 363 38 -90 466 72 -85
Belleville – Quinte West 24 19 -21 32 8 -75 56 27 -52
Brantford 53 4 -92 2 4 100 55 8 -85
Calgary 518 719 39 721 1,247 73 1,239 1,966 59
Chilliwack 20 11 -45 14 104 ## 34 115 238
Drummondville 14 15 7 27 85 215 41 100 144
Edmonton 503 737 47 457 738 61 960 1,475 54
Fredericton 61 37 -39 81 43 -47 142 80 -44
Greater / Grand Sudbury 2 0 -100 2 0 -100 4 0 -100
Guelph 5 7 40 136 30 -78 141 37 -74
Halifax 98 97 -1 887 695 -22 985 792 -20
Hamilton 33 19 -42 288 6 -98 321 25 -92
Kamloops 5 6 20 1 6 ## 6 12 100
Kelowna 62 38 -39 322 572 78 384 610 59
Kingston 27 28 4 0 7 ## 27 35 30
Kitchener – Cambridge – Waterloo 109 47 -57 54 538 ## 163 585 259
Lethbridge 26 17 -35 2 15 ## 28 32 14
London 27 77 185 214 129 -40 241 206 -15
Moncton 38 27 -29 164 197 20 202 224 11
Montréal 134 121 -10 774 2,841 267 908 2,962 226
Nanaimo 16 17 6 3 62 ## 19 79 316
Oshawa 115 32 -72 60 214 257 175 246 41
Ottawa – Gatineau 236 184 -22 792 487 -39 1,028 671 -35
Gatineau 14 36 157 413 107 -74 427 143 -67
Ottawa 222 148 -33 379 380 0 601 528 -12
Peterborough 3 42 ## 0 24 ## 3 66 ##
Québec 37 68 84 540 761 41 577 829 44
Red Deer 3 4 33 4 5 25 7 9 29
Regina 10 37 270 149 91 -39 159 128 -19
Saguenay 34 25 -26 14 24 71 48 49 2
St. Catharines – Niagara 41 37 -10 132 33 -75 173 70 -60
Saint John 31 36 16 0 68 ## 31 104 235
St. John's 50 86 72 5 33 ## 55 119 116
Saskatoon 75 112 49 333 126 -62 408 238 -42
Sherbrooke 27 29 7 71 194 173 98 223 128
Thunder Bay 16 9 -44 4 6 50 20 15 -25
Toronto 370 324 -12 6,801 2,523 -63 7,171 2,847 -60
Trois-Rivières 10 17 70 267 80 -70 277 97 -65
Vancouver 350 300 -14 3,555 1,467 -59 3,905 1,767 -55
Victoria 25 22 -12 477 312 -35 502 334 -33
Windsor 31 58 87 25 305 ## 56 363 ##
Winnipeg 139 130 -6 428 549 28 567 679 20
Total 3,499 3,641 4 18,254 14,696 -19 21,753 18,337 -16

Data for 2023 and 2024 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
May 2024 June 2024 % May 2024 June 2024 % May 2024 June 2024 %
N.L. 579 727 26 133 402 202 712 1,129 59
P.E.I. 227 85 -63 1,200 456 -62 1,427 541 -62
N.S. 1,634 1,941 19 6,560 9,210 40 8,194 11,151 36
N.B. 1,023 916 -10 6,188 4,080 -34 7,211 4,996 -31
Qc 4,373 3,740 -14 44,042 43,164 -2 48,415 46,904 -3
Ont. 12,899 11,992 -7 71,198 53,102 -25 84,097 65,094 -23
Man. 1,543 1,644 7 1,128 6,756 499 2,671 8,400 214
Sask. 1,112 1,612 45 468 2,604 456 1,580 4,216 167
Alta. 14,520 15,496 7 33,315 26,346 -21 47,835 41,842 -13
B.C. 4,377 4,876 11 39,931 34,085 -15 44,308 38,961 -12
Canada (10,000+) 42,287 43,029 2 204,163 180,205 -12 246,450 223,234 -9
Canada (All Areas) 52,229 52,762 1 212,702 188,911 -11 264,929 241,672 -9

Data for 2023 and 2024 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
May 2024 June 2024 % May 2024 June 2024 % May 2024 June 2024 %
Abbotsford – Mission 154 142 -8 1,500 348 -77 1,654 490 -70
Barrie 290 350 21 720 456 -37 1,010 806 -20
Belleville – Quinte West 136 171 26 48 96 100 184 267 45
Brantford 250 142 -43 0 48 ## 250 190 -24
Calgary 6,950 7,550 9 16,548 14,964 -10 23,498 22,514 -4
Chilliwack 148 142 -4 148 1,248 ## 304 1,390 357
Drummondville 133 136 2 732 1,020 39 865 1,156 34
Edmonton 6,105 6,806 11 15,036 8,856 -41 21,141 15,662 -26
Fredericton 274 249 -9 768 516 -33 1,042 765 -27
Greater / Grand Sudbury 30 14 -53 264 0 -100 294 14 -95
Guelph 101 53 -48 0 360 ## 101 413 309
Halifax 759 684 -10 5,592 8,340 49 6,351 9,024 42
Hamilton 220 176 -20 5,148 72 -99 5,368 248 -95
Kamloops 188 82 -56 1,044 72 -93 1,232 154 -88
Kelowna 378 314 -17 12,240 6,864 -44 12,618 7,178 -43
Kingston 144 251 74 240 84 -65 384 335 -13
Kitchener – Cambridge – Waterloo 406 481 18 360 6,456 ## 766 6,937 ##
Lethbridge 438 155 -65 228 180 -21 666 335 -50
London 604 926 53 1,188 1,548 30 1,792 2,474 38
Moncton 211 207 -2 4,404 2,364 -46 4,615 2,571 -44
Montréal 1,283 893 -30 27,047 34,065 26 28,330 34,958 23
Nanaimo 147 179 22 144 744 417 291 923 217
Oshawa 907 274 -70 984 2,568 161 1,891 2,842 50
Ottawa – Gatineau 1,992 2,202 11 16,128 5,844 -64 18,120 8,046 -56
Gatineau 593 690 16 9,312 1,284 -86 9,905 1,974 -80
Ottawa 1,399 1,512 8 6,816 4,560 -33 8,215 6,072 -26
Peterborough 93 475 411 24 288 ## 117 763 ##
Québec 566 596 5 7,044 9,132 30 7,610 9,728 28
Red Deer 105 66 -37 60 60 - 165 126 -24
Regina 237 324 37 204 1,092 435 441 1,416 221
Saguenay 230 162 -30 132 288 118 362 450 24
St. Catharines – Niagara 1,007 565 -44 2,232 396 -82 3,239 961 -70
Saint John 199 283 42 312 816 162 511 1,099 115
St. John's 512 616 20 132 396 200 644 1,012 57
Saskatoon 816 1,144 40 264 1,512 473 1,080 2,656 146
Sherbrooke 337 249 -26 1,080 2,328 116 1,417 2,577 82
Thunder Bay 158 66 -58 24 72 200 182 138 -24
Toronto 4,000 4,062 2 50,280 30,276 -40 54,280 34,338 -37
Trois-Rivières 225 101 -55 1,548 960 -38 1,773 1,061 -40
Vancouver 2,079 2,962 42 21,468 17,604 -18 23,547 20,566 -13
Victoria 328 285 -13 1,464 3,744 156 1,792 4,029 125
Windsor 367 462 26 1,032 3,660 255 1,399 4,122 195
Winnipeg 1,198 1,297 8 972 6,588 ## 2,170 7,885 263

Data for 2023 and 2024 based on 2021 Census Definitions.

Source: CMHC

## not calculable / extreme value

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Date Published: July 16, 2024

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