Housing starts for April 2024

OTTAWA, ON, May 15, 2024 /CNW/ - The total monthly seasonally adjusted annual rate (SAAR) of housing starts for all areas in Canada decreased 1% in April (240,229 units) compared to March (242,267), according to Canada Mortgage and Housing Corporation (CMHC).

The six-month trend in housing starts decreased 2.2% from 243,907 units in March to 238,585 units in April. The trend measure is a six-month moving average of the SAAR of total housing starts for all areas in Canada.

Housing Starts in Canada - All Areas (CNW Group/Canada Mortgage and Housing Corporation (CMHC))

The actual number of housing starts across Canada in urban centres of 10,000 population and over was down 9% to 18,486 units in April compared to 20,231 units in April 2023. The year-over-year decrease was driven by lower multi-unit starts, down 11%, whereas single-detached starts increased 3%.

April's actual housing starts were lower in all three major cities in Canada due to decreases in both multi-unit and single-detached starts. Toronto declined 38%, Vancouver fell 30% and Montreal was down 3% compared to April a year ago.

"Both the SAAR and Trend of housing starts decreased in April as did the actual number of starts, largely driven by fewer multi-unit starts, particularly in Ontario. The multi-unit volatility observed in Toronto, Vancouver, and Montréal in recent months is unsurprising as we continue to see last year's challenging borrowing conditions reflected in multi-unit housing starts numbers. We expect to see continued downward pressure in these large centres," said Bob Dugan, CMHC's Chief Economist.

Key Facts:

• The monthly SAAR of total urban (centres 10,000 population and over) housing starts was flat at 220,123 units recorded. Multi-unit urban starts decreased 1% to 178,462 units, while single-detached urban starts increased 2% to 41,661 units.
• The rural starts monthly SAAR estimate was 20,106 units.
• Total SAAR housing starts were up 41% in Montreal, driven by a 50% increase in multi-unit starts. Vancouver declined 17% due to decreases in multi-unit starts. Toronto fell 12% with both multi-unit and single-detached 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 May housing starts data on June 17 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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Related Links:

• 2024 Housing Market Outlook
• Spring 2024 Housing Supply Report
• 2024 Rental Market Report
• Housing starts for March 2024

Housing Start Data in Centres 10,000 Population and Over
		Single-Detached						All Others						Total
		April 2023		April 2024		%		April 2023		April 2024		%		April 2023		April 2024		%
Provinces (10,000+)
N.-L.		21		40		90		6		11		83		27		51		89
P.E.I.		15		10		-33		42		8		-81		57		18		-68
N.S.		110		127		15		197		441		124		307		568		85
N.B.		46		42		-9		321		171		-47		367		213		-42
Atlantic		192		219		14		566		631		11		758		850		12
Qc		360		422		17		2,398		2,367		-1		2,758		2,789		1
Ont.		1,088		1,002		-8		7,743		4,587		-41		8,831		5,589		-37
Man.		146		117		-20		177		503		184		323		620		92
Sask.		92		72		-22		93		265		185		185		337		82
Alta.		925		1,263		37		1,431		2,553		78		2,356		3,816		62
Prairies		1,163		1,452		25		1,701		3,321		95		2,864		4,773		67
B.C.		595		405		-32		4,425		4,080		-8		5,020		4,485		-11
Canada (10,000+)		3,398		3,500		3		16,833		14,986		-11		20,231		18,486		-9
Metropolitan Areas
Abbotsford-Mission		29		26		-10		11		39		255		40		65		63
Barrie		100		54		-46		408		9		-98		508		63		-88
Belleville - Quinte West		8		14		75		52		8		-85		60		22		-63
Brantford		61		17		-72		33		5		-85		94		22		-77
Calgary		447		528		18		717		1,303		82		1,164		1,831		57
Chilliwack		6		15		150		12		9		-25		18		24		33
Drummondville		15		15		-		19		45		137		34		60		76
Edmonton		370		598		62		638		1,058		66		1,008		1,656		64
Fredericton		8		9		13		4		0		-100		12		9		-25
Greater/Grand Sudbury		12		4		-67		4		0		-100		16		4		-75
Guelph		5		2		-60		0		32		##		5		34		##
Halifax		40		75		88		180		418		132		220		493		124
Hamilton		13		10		-23		544		41		-92		557		51		-91
Kamloops		8		9		13		146		5		-97		154		14		-91
Kelowna		52		31		-40		62		170		174		114		201		76
Kingston		25		20		-20		236		12		-95		261		32		-88
Kitchener-Cambridge-Waterloo		46		43		-7		53		469		##		99		512		417
Lethbridge		13		10		-23		8		51		##		21		61		190
London		24		40		67		190		375		97		214		415		94
Moncton		13		26		100		173		153		-12		186		179		-4
Montréal		86		70		-19		1,151		1,124		-2		1,237		1,194		-3
Nanaimo		36		13		-64		17		372		##		53		385		##
Oshawa		55		45		-18		409		90		-78		464		135		-71
Ottawa-Gatineau		118		138		17		1,271		309		-76		1,389		447		-68
Gatineau		16		24		50		447		32		-93		463		56		-88
Ottawa		102		114		12		824		277		-66		926		391		-58
Peterborough		10		8		-20		16		14		-13		26		22		-15
Québec		62		66		6		319		631		98		381		697		83
Red Deer		6		8		33		21		63		200		27		71		163
Regina		22		19		-14		40		204		410		62		223		260
Saguenay		20		7		-65		50		8		-84		70		15		-79
St. Catharines-Niagara		61		50		-18		86		93		8		147		143		-3
Saint John		18		1		-94		139		10		-93		157		11		-93
St. John's		18		36		100		6		11		83		24		47		96
Saskatoon		66		45		-32		52		60		15		118		105		-11
Sherbrooke		20		21		5		111		64		-42		131		85		-35
Thunder Bay		1		1		-		0		0		-		1		1		-
Toronto		316		305		-3		4,626		2,749		-41		4,942		3,054		-38
Trois-Rivières		23		11		-52		66		28		-58		89		39		-56
Vancouver		292		195		-33		3,875		2,718		-30		4,167		2,913		-30
Victoria		44		21		-52		47		485		##		91		506		456
Windsor		19		31		63		14		289		##		33		320		##
Winnipeg		136		101		-26		168		490		192		304		591		94
Total		2,724		2,738		1		15,974		14,014		-12		18,698		16,752		-10

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)
			Single-Detached						All Others						Total
			March 2024		April 2024		%		March 2024		April 2024		%		March 2024		April 2024		%
Provinces (10,000+)
N.L.			305		636		109		20		304		##		325		940		189
P.E.I.			41		110		168		648		96		-85		689		206		-70
N.S.			1,714		1,955		14		5,854		5,380		-8		7,568		7,335		-3
N.B.			873		946		8		556		2,052		269		1,429		2,998		110
Qc			4,928		4,499		-9		30,072		25,878		-14		35,000		30,377		-13
Ont.			12,798		13,031		2		57,256		56,428		-1		70,054		69,459		-1
Man.			1,747		1,446		-17		2,964		6,036		104		4,711		7,482		59
Sask.			1,092		737		-33		1,968		3,180		62		3,060		3,917		28
Alta.			13,670		14,378		5		25,188		30,499		21		38,858		44,877		15
B.C.			3,548		3,923		11		55,116		48,609		-12		58,664		52,532		-10
Canada (10,000+)			40,716		41,661		2		179,642		178,462		-1		220,358		220,123		0
Canada (All Areas)			52,791		53,895		2		189,477		186,335		-2		242,267		240,229		-1
Metropolitan Areas
Abbotsford-Mission			102		232		127		1,728		468		-73		1,830		700		-62
Barrie			852		715		-16		48		108		125		900		823		-9
Belleville - Quinte West			384		207		-46		12		96		##		396		303		-23
Brantford			303		346		14		0		60		##		303		406		34
Calgary			7,130		6,331		-11		14,736		15,636		6		21,866		21,967		0
Chilliwack			82		110		34		82		108		32		1,582		218		-86
Drummondville			192		115		-40		384		540		41		576		655		14
Edmonton			5,418		6,377		18		9,504		12,696		34		14,922		19,073		28
Fredericton			330		393		19		0		0		-		330		393		19
Greater/Grand Sudbury			43		11		-74		0		0		-		43		11		-74
Guelph			50		28		-44		72		384		433		122		412		238
Halifax			1,040		932		-10		5,340		5,016		-6		6,380		5,948		-7
Hamilton			443		226		-49		204		492		141		647		718		11
Kamloops			219		81		-63		24		60		150		243		141		-42
Kelowna			230		291		27		4,548		2,040		-55		4,778		2,331		-51
Kingston			168		257		53		108		144		33		276		401		45
Kitchener-Cambridge-Waterloo			579		576		-1		900		5,628		##		1,479		6,204		319
Lethbridge			217		l134		-38		24		612		##		241		746		210
London			650		606		-7		6,084		4,500		-26		6,734		5,106		-24
Moncton			325		281		-14		168		1,836		##		493		2,117		329
Montréal			1,105		766		-31		8,773		13,130		50		9,878		13,896		41
Nanaimo			19		134		##		12		4,464		##		31		4,598		##
Oshawa			299		389		30		936		1,080		15		1,235		1,469		19
Ottawa-Gatineau			1,719		1,772		3		7,128		3,708		-48		8,847		5,480		-38
Gatineau			270		280		4		1,788		384		-79		2,058		664		-68
Ottawa			1,449		1,492		3		5,340		3,324		-38		6,789		4,816		-29
Peterborough			189		130		-31		0		168		##		189		298		58
Québec			386		577		49		6,240		7,572		21		6,626		8,149		23
Red Deer			120		85		-29		24		756		##		144		841		484
Regina			310		227		-27		888		2,448		176		1,198		2,675		123
Saguenay			989		72		-93		348		96		-72		1,337		168		-87
St. Catharines-Niagara			735		612		-17		960		1,116		16		1,695		1,728		2
Saint John			234		18		-92		0		120		##		234		138		-41
St. John's			215		651		203		12		132		##		227		783		245
Saskatoon			713		444		-38		1,056		720		-32		1,769		1,164		-34
Sherbrooke			290		225		-22		1,608		768		-52		1,898		993		-48
Thunder Bay			939		96		-90		288		0		-100		1,227		96		-92
Toronto			4,314		3,995		-7		37,704		32,988		-13		42,018		36,983		-12
Trois-Rivières			85		78		-8		372		336		-10		457		414		-9
Vancouver			1,666		1,969		18		40,068		32,616		-19		41,734		34,585		-17
Victoria			324		238		-27		5,148		5,820		13		5,472		6,058		11
Windsor			372		370		-1		264		3,468		##		636		3,838		##
Winnipeg			1,506		1,158		-23		2,808		5,880		109		4,314		7,038		63

Data for 2023 and 2024 based on 2021 Census Definitions.

Source: CMHC

## not calculable / extreme value

SOURCE Canada Mortgage and Housing Corporation (CMHC)

on this release: To request an interview with a CMHC economist, contact: Media Relations, CMHC, [email protected]