Housing starts for November 2025

OTTAWA, ON, Dec. 15, 2025 /CNW/ - The six-month trend in housing starts decreased (1.7%) in November (264,445 units), according to Canada Mortgage and Housing Corporation (CMHC). The trend measure is a six-month moving average of the seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.

Actual housing starts were down 3% year-over-year in centres with a population of 10,000 or greater, with 21,870 units recorded in November, compared to 22,501 units in November 2024. The year-to-date total was 219,077 units, up 4% from the same period in 2024.

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

The total monthly SAAR of housing starts for all areas in Canada was up 9.4% in November (254,058 units) compared to October (232,245 units).

"Both the six-month trend and actual starts fell in November, showing signs of slowing momentum in residential construction. This was driven by lower monthly starts in Ontario, BC, and Alberta," said Kevin Hughes, CMHC's Deputy Chief Economist. "However, on a year-to-date basis, starts are still elevated compared to last year and remain on pace to surpass the 2024 total. Regional differences are driving this outcome, with Ontario and BC below their 2024 housing starts levels, while the Prairie provinces, Québec and the Atlantic provinces have all pushed national year-to-date starts higher."

Key Facts:

• New: As part of the Modernizing Housing Data initiative, new housing completions data for centres with a population of 10,000+ and absorptions data for centres with a population of 50,000+ is now available on the Housing Market Information Portal.
• The rural starts monthly SAAR estimate was 20,485 units.
• Among Canada's big three cities, Montreal posted a 24% year-over-year increase in actual housing starts this month driven by higher multi-unit and single-detached starts. Vancouver recorded a 1% decrease in starts due to fewer multi-unit and single-detached starts. Toronto declined 11% with both multi-unit and single-detached starts lower.
• CMHC's Starts and Completions Survey provides Canadians with objective, accurate and timely information on actual new residential construction in Canada. Read more about why housing starts matter on CMHC's Housing Observer.
• 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 December housing starts data, and total starts data for 2025, on January 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.
• Read about our definitions and methodology to better understand the foundations of the Starts and Completions and Market Absorption surveys.

Housing starts facilitate the analysis of monthly, quarterly, and year-over-year activity in the new home market. The data CMHC collects as part of the 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 plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. CMHC's mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. CMHC research and data help inform housing policy. By facilitating co-operation between all levels of government, private and non-profit sectors, CMHC contributes to advancing housing affordability, equity, and climate compatibility. CMHC actively supports the Government of Canada in delivering on its commitment to make housing more affordable.

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Related Links:

• Housing starts for October 2025
• Housing shortages in Canada
• We built this city on… Development charges
• Framework for change: Productivity in housing construction
• Unlocking housing supply: Why scale really matters

Table 1: Housing Start - Seasonally Adjusted at Annual Rates - 6 Month Moving Average (Trend) November 2025
	Single-Detached			All Others			Total
	October 2025	November 2025	%	October 2025	November 2025	%	October 2025	November 2025	%
Provinces (10,000+)
Nfld.Lab.	689	712	3	375	428	14	1,064	1,140	7
P.E.I.	362	352	-3	880	886	1	1,242	1,238	0
N.S.	1,721	1,735	1	7,323	6,988	-5	9,044	8,723	-4
N.B.	949	996	5	5,424	6,065	12	6,373	7,061	11
Que.	4,847	4,976	3	46,873	46,292	-1	51,720	51,268	-1
Ont.	10,043	10,038	0	53,298	50,531	-5	63,341	60,569	-4
Man.	2,248	2,223	-1	5,232	6,060	16	7,479	8,283	11
Sask.	1,781	1,731	-3	4,046	3,696	-9	5,826	5,427	-7
Alta.	14,843	14,262	-4	40,717	38,815	-5	55,560	53,076	-4
B.C.	4,106	4,156	1	40,142	40,529	1	44,249	44,686	1
Canada (10,000+)	41,588	41,180	-1	204,311	200,290	-2	245,899	241,470	-2
Canada (All Areas)	55,393	54,822	-1	213,669	209,622	-2	269,063	264,445	-2
Metroplitan Areas
Abbotsford-Mission	168	182	8	2,080	2,044	-2	2,248	2,226	-1
Barrie	181	212	17	922	976	6	1,103	1,188	8
Belleville - Quinte West	179	181	1	430	472	10	609	653	7
Brantford	309	367	19	1,498	834	-44	1,806	1,201	-33
Calgary	6,348	6,177	-3	22,260	21,336	-4	28,608	27,513	-4
Chilliwack	138	134	-3	290	384	32	428	518	21
Drummondville	202	223	10	1,200	1,380	15	1,402	1,603	14
Edmonton	6,453	6,065	-6	16,640	16,062	-3	23,093	22,127	-4
Fredericton	274	316	15	1,508	1,738	15	1,782	2,054	15
Greater/Grand Sudbury	119	127	7	256	326	27	375	453	21
Guelph	24	26	8	238	226	-5	262	252	-4
Halifax	863	876	2	6,272	5,956	-5	7,135	6,832	-4
Hamilton	364	401	10	2,532	2,468	-3	2,896	2,869	-1
Kamloops	49	61	24	396	440	11	446	501	12
Kelowna	270	258	-4	2,856	2,476	-13	3,126	2,734	-13
Kingston	212	262	24	1,154	1,158	0	1,366	1,420	4
Kitchener-Cambridge- Waterloo	512	524	2	4,550	4,584	1	5,062	5,108	1
Lethbridge	390	354	-9	118	46	-61	508	400	-21
London	417	415	0	3,946	4,492	14	4,363	4,907	12
Moncton	284	304	7	2,842	3,146	11	3,126	3,450	10
Montréal	1,299	1,326	2	28,168	29,380	4	29,467	30,706	4
Nanaimo	87	103	18	408	434	6	495	537	8
Oshawa	402	364	-9	832	938	13	1,234	1,301	5
Ottawa-Gatineau	1,508	1,654	10	9,502	9,558	1	11,010	11,212	2
Gatineau	419	433	3	1,904	1,258	-34	2,323	1,691	-27
Ottawa	1,089	1,221	12	7,598	8,300	9	8,687	9,521	10
Peterborough	89	87	-2	28	28	-	117	115	-2
Québec	706	700	-1	10,206	7,652	-25	10,912	8,352	-23
Red Deer	152	140	-8	450	116	-74	602	256	-57
Regina	380	390	3	1,084	1,108	2	1,464	1,498	2
Saguenay	236	231	-2	438	460	5	674	691	3
St. Catharines-Niagara	464	450	-3	1,788	2,038	14	2,252	2,488	10
Saint John	249	247	-1	466	594	27	715	841	18
St. John's	649	674	4	384	450	17	1,033	1,124	9
Saskatoon	1,334	1,279	-4	2,890	2,514	-13	4,224	3,793	-10
Sherbrooke	253	246	-3	1,426	1,864	31	1,679	2,110	26
Thunder Bay	94	89	-5	206	196	-5	300	285	-5
Toronto	3,593	3,405	-5	24,550	21,540	-12	28,143	24,945	-11
Trois-Rivières	134	145	8	1,768	1,342	-24	1,902	1,487	-22
Vancouver	2,213	2,213	-	25,700	26,934	5	27,913	29,147	4
Victoria	324	353	9	5,914	5,672	-4	6,238	6,025	-3
Windsor	318	306	-4	1,090	1,426	31	1,408	1,732	23
Winnipeg	1,956	1,905	-3	4,494	5,140	14	6,450	7,045	9

Data based on 2021 Census Definitions

Source : Market Analysis Centre, CMHC

Table 2
Housing Start Data in Centres 10,000 Population and Over
January - November 2024 - 2025
Area Province		Single-Detached			All Others			Total
		2024	2025	%	2024	2025	%	2024	2025	%
N.L.		590	644	9	330	371	12	920	1,015	10
P.E.I.		237	300	27	985	872	-11	1,222	1,172	-4
N.S.		1,465	1,524	4	4,738	6,269	32	6,203	7,793	26
N.B.		910	910	-	3,678	4,276	16	4,588	5,186	13
Atlantic		3,202	3,378	5	9,731	11,788	21	12,933	15,166	17
Que.		4,228	4,580	8	34,352	45,148	31	38,580	49,728	29
Ont.		12,219	9,180	-25	54,956	45,454	-17	67,175	54,634	-19
Man.		1,591	2,100	32	4,180	4,714	13	5,771	6,814	18
Sask.		1,226	1,643	34	2,500	3,613	45	3,726	5,256	41
Alta.		14,445	14,258	-1	28,701	35,665	24	43,146	49,923	16
Prairies		17,262	18,001	4	35,381	43,992	24	52,643	61,993	18
B.C.		4,119	3,764	-9	35,711	33,792	-5	39,830	37,556	-6
Canada		41,030	38,903	-5	170,131	180,174	6	211,161	219,077	4
Metropolitan Areas
Abbotsford-Mission		169	168	-1	884	1,924	118	1,053	2,092	99
Barrie		422	183	-57	504	609	21	926	792	-14
Belleville - Quinte West		206	152	-26	153	401	162	359	553	54
Brantford		196	277	41	150	1,350	##	346	1,627	370
Calgary		6,586	6,328	-4	16,066	20,111	25	22,652	26,439	17
Chilliwack		138	125	-9	415	433	4	553	558	1
Drummondville		155	213	37	837	1,027	23	992	1,240	25
Edmonton		6,408	6,211	-3	10,531	13,412	27	16,939	19,623	16
Fredericton		294	276	-6	428	1,103	158	722	1,379	91
Greater/Grand Sudbury		122	91	-25	488	237	-51	610	328	-46
Guelph		57	31	-46	378	138	-63	435	169	-61
Halifax		738	758	3	4,015	5,533	38	4,753	6,291	32
Hamilton		385	322	-16	1,758	1,925	9	2,143	2,247	5
Kamloops		85	77	-9	540	330	-39	625	407	-35
Kelowna		345	243	-30	3,426	2,285	-33	3,771	2,528	-33
Kingston		207	209	1	325	797	145	532	1,006	89
Kitchener-Cambridge- Waterloo		349	396	13	2,399	3,347	40	2,748	3,743	36
Lethbridge		250	325	30	439	203	-54	689	528	-23
London		514	421	-18	3,195	2,497	-22	3,709	2,918	-21
Moncton		262	284	8	2,447	2,382	-3	2,709	2,666	-2
Montréal		1,055	1,255	19	15,475	24,207	56	16,530	25,462	54
Nanaimo		163	95	-42	806	340	-58	969	435	-55
Oshawa		407	341	-16	1,162	615	-47	1,569	956	-39
Ottawa-Gatineau		1,724	1,634	-5	9,010	9,383	4	10,734	11,017	3
Gatineau		365	376	3	3,072	1,644	-46	3,437	2,020	-41
Ottawa		1,359	1,258	-7	5,938	7,739	30	7,297	8,997	23
Peterborough		129	75	-42	179	17	-91	308	92	-70
Québec		577	686	19	6,171	7,750	26	6,748	8,436	25
Red Deer		89	119	34	253	255	1	342	374	9
Regina		270	367	36	853	1,275	49	1,123	1,642	46
Saguenay		181	214	18	580	431	-26	761	645	-15
St. Catharines-Niagara		623	393	-37	1,071	1,487	39	1,694	1,880	11
Saint John		215	221	3	490	374	-24	705	595	-16
St. John's		506	597	18	294	360	22	800	957	20
Saskatoon		887	1,211	37	1,607	2,225	38	2,494	3,436	38
Sherbrooke		287	236	-18	1,506	1,367	-9	1,793	1,603	-11
Thunder Bay		81	89	10	208	129	-38	289	218	-25
Toronto		4,395	3,086	-30	32,343	20,539	-36	36,738	23,625	-36
Trois-Rivières		189	160	-15	1,360	1,210	-11	1,549	1,370	-12
Vancouver		2,020	1,979	-2	23,702	22,405	-5	25,722	24,384	-5
Victoria		262	264	1	3,406	4,132	21	3,668	4,396	20
Windsor		443	307	-31	1,614	852	-47	2,057	1,159	-44
Winnipeg		1,325	1,817	37	3,555	4,051	14	4,880	5,868	20
Total		33,716	32,236	-4	155,023	163,448	5	188,739	195,684	4

1Data for 2022 based on 2016 Census Definitions and data for 2023, 2024 and 2025 based on 2021 Census Definitions.

Source: CMHC Starts and Completion Survey, Market Absorption Survey

Housing Start Data in Centres 10,000 Population and Over
	Single-Detached			All Others			Total
	November 2024	November 2025	%	November 2024	November 2025	%	November 2024	November 2025	%
Provinces (10,000+)
N.-L.	78	73	-6	43	64	49	121	137	13
P.E.I.	9	10	11	3	11	267	12	21	75
N.S.	136	150	10	335	410	22	471	560	19
N.B.	111	125	13	399	779	95	510	904	77
Atlantic	334	358	7	780	1,264	62	1,114	1,622	46
Qc	561	561	-	5,017	5,733	14	5,578	6,294	13
Ont.	1,355	1,015	-25	4,191	3,941	-6	5,546	4,956	-11
Man.	135	165	22	514	925	80	649	1,090	68
Sask.	142	144	1	269	113	-58	411	257	-37
Alta.	1,697	1,104	-35	3,374	3,273	-3	5,071	4,377	-14
Prairies	1,974	1,413	-28	4,157	4,311	4	6,131	5,724	-7
B.C.	387	355	-8	3,745	2,919	-22	4,132	3,274	-21
Canada (10,000+)	4,611	3,702	-20	17,890	18,168	2	22,501	21,870	-3
Metropolitan Areas
Abbotsford-Mission	11	26	136	76	27	-64	87	53	-39
Barrie	62	54	-13	32	50	56	94	104	11
Belleville - Quinte West	29	13	-55	18	21	17	47	34	-28
Brantford	24	37	54	58	21	-64	82	58	-29
Calgary	717	552	-23	1,831	1,936	6	2,548	2,488	-2
Chilliwack	11	13	18	133	51	-62	144	64	-56
Drummondville	14	31	121	140	173	24	154	204	32
Edmonton	789	406	-49	1,354	1,228	-9	2,143	1,634	-24
Fredericton	36	53	47	108	224	107	144	277	92
Greater/Grand Sudbury	33	9	-73	421	104	-75	454	113	-75
Guelph	8	4	-50	32	12	-63	40	16	-60
Halifax	76	68	-11	226	330	46	302	398	32
Hamilton	57	61	7	17	34	100	74	95	28
Kamloops	7	9	29	284	26	-91	291	35	-88
Kelowna	32	25	-22	20	189	##	52	214	312
Kingston	14	43	207	9	4	-56	23	47	104
Kitchener-Cambridge- Waterloo	35	33	-6	49	54	10	84	87	4
Lethbridge	37	21	-43	28	2	-93	65	23	-65
London	55	27	-51	136	299	120	191	326	71
Moncton	37	40	8	220	414	88	257	454	77
Montréal	119	142	19	2,530	3,147	24	2,649	3,289	24
Nanaimo	26	16	-38	129	31	-76	155	47	-70
Oshawa	30	12	-60	20	97	385	50	109	118
Ottawa-Gatineau	220	194	-12	905	961	6	1,125	1,155	3
Gatineau	30	37	23	318	66	-79	348	103	-70
Ottawa	190	157	-17	587	895	52	777	1,052	35
Peterborough	19	10	-47	51	0	-100	70	10	-86
Québec	66	95	44	1,011	675	-33	1,077	770	-29
Red Deer	13	2	-85	2	13	##	15	15	-
Regina	25	39	56	17	40	135	42	79	88
Saguenay	20	18	-10	76	61	-20	96	79	-18
St. Catharines-Niagara	75	36	-52	230	203	-12	305	239	-22
Saint John	29	20	-31	46	114	148	75	134	79
St. John's	71	67	-6	43	63	47	114	130	14
Saskatoon	113	100	-12	251	61	-76	364	161	-56
Sherbrooke	48	17	-65	219	274	25	267	291	9
Thunder Bay	11	8	-27	6	6	-	17	14	-18
Toronto	473	354	-25	1,828	1,697	-7	2,301	2,051	-11
Trois-Rivières	15	17	13	68	100	47	83	117	41
Vancouver	200	173	-14	2,478	2,210	-11	2,678	2,383	-11
Victoria	15	26	73	294	241	-18	309	267	-14
Windsor	51	33	-35	126	199	58	177	232	31
Winnipeg	116	132	14	426	822	93	542	954	76
Total	3,839	3,036	-21	15,948	16,214	2	19,787	19,250	-3

Data for 2022 based on 2016 Census Definitions and data for 2023, 2024 and 2025 based on 2021 Census Definitions

Source: CMHC Starts and Completion Survey, Market Absorption Survey

## not calculable / extreme value

SOURCE Canada Mortgage and Housing Corporation (CMHC)

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