In the news release, Housing starts for September 2024, issued 16-Oct-2024 by Canada Mortgage and Housing Corporation (CMHC) over PR Newswire, we are advised by the company that in the first paragraph, the first sentence should read “1.3%” rather than “1.9%” as originally issued inadvertently. The complete, corrected release follows:
Housing starts for September 2024
The six-month trend in housing starts decreased 1.3% from 246,972 units in August to 243,759 units in September. 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.
The total monthly SAAR of housing starts for all areas in Canada increased 5% in September (223,808 units) compared to August (213,012 units), according to Canada Mortgage and Housing Corporation (CMHC).
In Canada’s urban centres with a population of 10,000 or greater, there have been 168,897 actual housing starts year-to-date (January – September) in 2024. This compares to 165,559 for the same period in 2023, meaning actual housing starts are currently 2% higher this year.
Quote:
“Growth in actual year-to-date housing starts has been driven by both higher multi-unit and single-detached units in Alberta, Quebec and the Atlantic provinces. By contrast, year-to-date starts in Ontario and British Columbia have decreased across all housing types. Despite the increase in housing starts in September, we remain well below what is required to restore affordability in Canada’s urban centres.” said Kevin Hughes, CMHC’s Deputy Chief Economist.
Key Facts:
— The monthly SAAR of total urban (centres 10,000 population and over) housing starts was 6% higher (210,002 units). Multi-unit urban starts increased 6% (163,400 units), while single-detached urban starts increased 5% (46,602 units).
— The rural starts monthly SAAR estimate was 13,806 units.
— Actual year-to-date housing starts between January and September 2024 are up 15% in Montreal from the same period last year, showing some recovery from historically low new home construction in 2023.
— In Vancouver, actual starts are down 19% in 2024 compared to 2023, but it’s important to note 2023 was a record high year.
— In Toronto, actual year-to-date housing starts are down 20% from 2023, which was also a high year for housing starts by historical standards.
— 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 October housing starts data on November 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 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.
— 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 plays a critical role as a national convenor to promote stability and sustainability in Canada’s housing finance system. Our mortgage insurance products support access to home ownership and the creation and maintenance of rental housing supply. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. We actively support the Government of Canada in delivering on its commitment to make housing more affordable.
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Related Links:
— Fall 2024 Housing Supply Report
— Higher rates hindered housing starts in 2023
— Canada’s potential capacity for housing construction
— Housing Starts for August 2024
Housing Start Data in Centres 10,000 Population and Over - Cumulative, January - September
Single-Detached All Others Total
2023 2024 % 2023 2024 % 2023 2024 %
Provinces (10,000+)
N.L. 331 458 38 92 232 152 423 690 63
P.E.I. 134 189 41 495 896 81 629 1,085 72
N.S. 1,117 1,173 5 2,764 4,199 52 3,881 5,372 38
N.B. 664 710 7 2,127 2,979 40 2,791 3,689 32
Atlantic 2,246 2,530 13 5,478 8,306 52 7,724 10,836 40
Que. 3,068 3,126 2 20,743 25,663 24 23,811 28,789 21
Ont. 11,257 9,576 -15 55,038 46,552 -15 66,295 56,128 -15
Man. 1,250 1,299 4 3,551 3,106 -13 4,801 4,405 -8
Sask. 725 911 26 2,247 2,000 -11 2,972 2,911 -2
Alta. 8,578 11,295 32 16,326 22,282 36 24,904 33,577 35
Prairies 10,553 13,505 28 22,124 27,388 24 32,677 40,893 25
B.C. 4,336 3,349 -23 30,716 28,902 -6 35,052 32,251 -8
Canada (10,000+) 31,460 32,086 2 134,099 136,811 2 165,559 168,897 2
Metropolitan Areas
Abbotsford-Mission 187 146 -22 350 756 116 537 902 68
Barrie 552 312 -43 1,305 446 -66 1,857 758 -59
Belleville - Quinte West 150 163 9 129 123 -5 279 286 3
Brantford 309 168 -46 264 39 -85 573 207 -64
Calgary 4,104 5,225 27 10,037 12,189 21 14,141 17,414 23
Chilliwack 141 121 -14 178 278 56 319 399 25
Drummondville 121 125 3 291 621 113 412 746 81
Edmonton 3,465 4,992 44 5,634 8,367 49 9,099 13,359 47
Fredericton 208 226 9 619 280 -55 827 506 -39
Greater Sudbury 76 61 -20 184 58 -68 260 119 -54
Guelph 56 43 -23 1,052 342 -67 1,108 385 -65
Halifax 419 604 44 2,398 3,682 54 2,817 4,286 52
Hamilton 222 250 13 1,558 1,691 9 1,780 1,941 9
Kamloops 78 68 -13 270 196 -27 348 264 -24
Kelowna 339 280 -17 1,792 3,387 89 2,131 3,667 72
Kingston 216 171 -21 763 149 -80 979 320 -67
Kitchener-Cambridge-Waterloo 657 290 -56 1,799 2,062 15 2,456 2,352 -4
Lethbridge 118 194 64 30 405 ## 148 599 305
London 367 415 13 1,367 2,587 89 1,734 3,002 73
Moncton 185 199 8 1,130 1,983 75 1,315 2,182 66
Montréal 767 814 6 10,110 11,675 15 10,877 12,489 15
Nanaimo 141 114 -19 208 670 222 349 784 125
Oshawa 532 338 -36 789 1,134 44 1,321 1,472 11
Ottawa-Gatineau 1,351 1,325 -2 7,617 6,919 -9 8,968 8,244 -8
Gatineau 250 276 10 2,205 2,084 -5 2,455 2,360 -4
Ottawa 1,101 1,049 -5 5,412 4,835 -11 6,513 5,884 -10
Peterborough 84 102 21 27 113 319 111 215 94
Québec 447 452 1 3,521 4,794 36 3,968 5,246 32
Red Deer 53 67 26 93 247 166 146 314 115
Regina 156 204 31 588 734 25 744 938 26
Saguenay 154 152 -1 429 215 -50 583 367 -37
St. Catharines-Niagara 668 517 -23 1,514 781 -48 2,182 1,298 -41
Saint John 163 166 2 264 438 66 427 604 41
St. John's 244 388 59 74 196 165 318 584 84
Saskatoon 535 647 21 1,396 1,228 -12 1,931 1,875 -3
Sherbrooke 176 220 25 868 953 10 1,044 1,173 12
Thunder Bay 76 56 -26 133 130 -2 209 186 -11
Toronto 3,539 3,389 -4 36,441 28,559 -22 39,980 31,948 -20
Trois-Rivières 134 160 19 771 1,269 65 905 1,429 58
Vancouver 2,266 1,645 -27 22,951 18,858 -18 25,217 20,503 -19
Victoria 295 216 -27 2,858 2,850 0 3,153 3,066 -3
Windsor 231 335 45 692 1,394 101 923 1,729 87
Winnipeg 1,088 1,071 -2 3,228 2,614 -19 4,316 3,685 -15
Total 25,070 26,431 5 125,722 125,412 0 150,792 151,843 1
Data for 2021 and 2022 based on 2016 Census Definitions and data for 2023 and 2024 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
September September % September September % September September %
2023 2024 2023 2024 2023 2024
Provinces (10,000+)
N.-L. 67 58 -13 26 45 73 93 103 11
P.E.I. 8 36 350 10 0 -100 18 36 100
N.S. 163 177 9 542 246 -55 705 423 -40
N.B. 91 107 18 434 539 24 525 646 23
Atlantic 329 378 15 1,012 830 -18 1,341 1,208 -10
Qc 431 402 -7 3,924 3,554 -9 4,355 3,956 -9
Ont. 1,341 1,477 10 7,266 3,981 -45 8,607 5,458 -37
Man. 139 170 22 230 281 22 369 451 22
Sask. 143 147 3 114 359 215 257 506 97
Alta. 1,184 1,441 22 2,921 2,325 -20 4,105 3,766 -8
Prairies 1,466 1,758 20 3,265 2,965 -9 4,731 4,723 0
B.C. 519 420 -19 2,641 3,041 15 3,160 3,461 10
Canada (10,000+) 4,086 4,435 9 18,108 14,371 -21 22,194 18,806 -15
Metropolitan Areas
Abbotsford-Mission 24 26 8 12 247 ## 36 273 ##
Barrie 40 47 18 123 115 -7 163 162 -1
Belleville - Quinte West 16 38 138 0 11 ## 16 49 206
Brantford 6 37 ## 27 20 -26 33 57 73
Calgary 554 660 19 2,180 1,430 -34 2,734 2,090 -24
Chilliwack 27 17 -37 10 4 -60 37 21 -43
Drummondville 8 15 88 42 67 60 50 82 64
Edmonton 464 637 37 620 798 29 1,084 1,435 32
Fredericton 28 37 32 283 26 -91 311 63 -80
Greater/Grand Sudbury 0 18 ## 5 21 320 5 39 ##
Guelph 8 7 -13 116 44 -62 124 51 -59
Halifax 78 64 -18 508 166 -67 586 230 -61
Hamilton 36 51 42 167 415 149 203 466 130
Kamloops 47 1 -98 78 64 -18 125 65 -48
Kelowna 17 34 100 151 425 181 168 459 173
Kingston 38 25 -34 44 9 -80 82 34 -59
Kitchener-Cambridge-Waterloo 38 22 -42 498 119 -76 536 141 -74
Lethbridge 24 22 -8 8 0 -100 32 22 -31
London 52 58 12 127 149 17 179 207 16
Moncton 24 29 21 135 414 207 159 443 179
Montréal 99 108 9 2,583 1,003 -61 2,682 1,111 -59
Nanaimo 11 8 -27 6 4 -33 17 12 -29
Oshawa 86 36 -58 10 14 40 96 50 -48
Ottawa-Gatineau 193 216 12 1,306 1,672 28 1,499 1,888 26
Gatineau 48 32 -33 219 346 58 267 378 42
Ottawa 145 184 27 1,087 1,326 22 1,232 1,510 23
Peterborough 11 3 -73 0 18 ## 11 21 91
Québec 68 49 -28 568 547 -4 636 596 -6
Red Deer 13 14 8 10 0 -100 23 14 -39
Regina 32 43 34 34 31 -9 66 74 12
Saguenay 18 10 -44 15 50 233 33 60 82
St. Catharines-Niagara 73 60 -18 308 10 -97 381 70 -82
Saint John 24 26 8 5 75 ## 29 101 248
St. John's 42 48 14 20 36 80 62 84 35
Saskatoon 105 95 -10 20 317 ## 125 412 230
Sherbrooke 25 31 24 84 242 188 109 273 150
Thunder Bay 30 15 -50 30 28 -7 60 43 -28
Toronto 406 554 36 4,469 1,179 -74 4,875 1,733 -64
Trois-Rivières 16 43 169 85 620 ## 101 663 ##
Vancouver 251 209 -17 1,922 1,774 -8 2,173 1,983 -9
Victoria 41 29 -29 175 331 89 216 360 67
Windsor 35 51 46 11 268 ## 46 319 ##
Winnipeg 108 139 29 159 139 -13 267 278 4
Total 3,216 3,632 13 16,954 12,902 -24 20,170 16,534 -18
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
August September % August September % August September %
2024 2024 2024 2024 2024 2024
Provinces (10,000+)
N.L. 561 553 -1 579 405 -30 1,140 958 -16
P.E.I. 225 431 92 372 0 -100 597 431 -28
N.S. 1,362 1,191 -13 1,930 2,671 38 3,292 3,862 17
N.B. 838 939 12 7,042 6,498 -8 7,880 7,437 -6
Qc 4,412 4,177 -5 36,693 35,909 -2 41,105 40,086 -2
Ont. 13,439 15,448 15 43,933 45,740 4 57,372 61,188 7
Man. 1,947 1,915 -2 4,956 3,372 -32 6,903 5,287 -23
Sask. 1,293 1,475 14 1,896 4,308 127 3,189 5,783 81
Alta. 15,426 16,140 5 30,481 28,242 -7 45,907 44,382 -3
B.C. 4,700 4,333 -8 26,950 36,255 35 31,650 40,588 28
Canada (10,000+) 44,203 46,602 5 154,832 163,400 6 199,035 210,002 6
Canada (All Areas) 51,639 54,105 5 161,373 169,707 5 213,012 223,808 5
Metropolitan Areas
Abbotsford-Mission 185 233 26 108 2,964 ## 293 3,197 ##
Barrie 291 410 41 1,704 1,380 -19 1,995 1,790 -10
Belleville - Quinte West 235 356 51 132 132 - 367 488 33
Brantford 129 399 209 0 240 ## 129 639 395
Calgary 6,960 7,167 3 12,936 17,160 33 19,896 24,327 22
Chilliwack 192 163 -15 192 48 -75 252 211 -16
Drummondville 258 245 -5 1,008 804 -20 1,266 1,049 -17
Edmonton 7,029 7,385 5 14,124 9,576 -32 21,153 16,961 -20
Fredericton 264 324 23 1,596 312 -80 1,860 636 -66
Greater/Grand Sudbury -13 103 ## 0 252 ## -13 355 ##
Guelph 28 88 214 324 528 63 352 616 75
Halifax 974 606 -38 1,548 1,992 29 2,522 2,598 3
Hamilton 359 417 16 1,068 4,980 366 1,427 5,397 278
Kamloops 31 11 -65 12 768 ## 43 779 ##
Kelowna 534 519 -3 168 5,100 ## 702 5,619 ##
Kingston 385 215 -44 756 108 -86 1,141 323 -72
Kitchener-Cambridge-Waterloo 289 321 11 3,648 1,428 -61 3,937 1,749 -56
Lethbridge 590 247 -58 2,616 0 -100 3,206 247 -92
London 599 566 -6 4,944 1,788 -64 5,543 2,354 -58
Moncton 239 260 9 4,896 4,968 1 5,135 5,228 2
Montréal 1,255 1,171 -7 13,884 11,864 -15 15,139 13,035 -14
Nanaimo 129 110 -15 24 48 100 153 158 3
Oshawa 404 325 -20 2,892 168 -94 3,296 493 -85
Ottawa-Gatineau 1,952 1,967 1 6,984 20,064 187 8,936 22,031 147
Gatineau 523 287 -45 1,008 4,152 312 1,531 4,439 190
Ottawa 1,429 1,680 18 5,976 15,912 166 7,405 17,592 138
Peterborough 58 51 -12 660 216 -67 718 267 -63
Québec 854 660 -23 4,284 6,564 53 5,138 7,224 41
Red Deer 74 103 39 0 0 - 74 103 39
Regina 245 382 56 288 372 29 533 754 41
Saguenay 79 123 56 360 600 67 439 723 65
St. Catharines-Niagara 287 676 136 2,028 120 -94 2,315 796 -66
Saint John 251 224 -11 288 900 213 539 1,124 109
St. John's 539 491 -9 516 432 -16 1,055 923 -13
Saskatoon 944 963 2 1,476 3,804 158 2,420 4,767 97
Sherbrooke 327 318 -3 1,116 2,904 160 1,443 3,222 123
Thunder Bay 54 62 15 0 336 ## 54 398 ##
Toronto 5,304 6,384 20 19,428 14,148 -27 24,732 20,532 -17
Trois-Rivières 351 426 21 1,500 7,440 396 1,851 7,866 325
Vancouver 2,054 2,175 6 18,408 21,288 16 20,462 23,463 15
Victoria 249 285 14 5,124 3,972 -22 5,373 4,257 -21
Windsor 508 495 -3 1,128 3,216 185 1,636 3,711 127
Winnipeg 1,613 1,614 0 3,876 1,668 -57 5,489 3,282 -40
Data for 2023 and 2024 based on 2021 Census Definitions.
Source: CMHC
## not calculable / extreme value
SOURCE Canada Mortgage and Housing Corporation (CMHC)
https://rt.newswire.ca/rt.gif?NewsItemId=C4008&Transmission_Id=202410160815CANADANWWEB______C4008&DateId=20241016
COMTEX_458865986/1005/2024-10-16T15:26:21