,,,,,,,,,,,,,,,LATEST Canadian HOUSING STARTS Data.......... SIGNIFICANT INCREASES Lately eh !!!!!!!!
Monthly Housing Starts and Other Construction Data Tables
Housing starts are an economic indicator that reflect the number of residential housing projects that have been started over a specific length of time. These data are divided into 3 types: single-family houses, townhouses or small condos and apartment buildings with 5 or more units.
June Monthly Housing Starts key highlights
The trend in housing starts was 234,974 units in June 2023, up from 229,520 units in May.
The trend measure is a 6-month moving average of the monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.
The Vancouver and Toronto census metropolitan areas (CMAs) recorded significant increases in total SAAR housing starts in June. Vancouver was up 71% and Toronto up 100%.
Toronto and Vancouver’s total housing starts combined accounted for 47% of total housing starts in Canada’s urban centres for the month of June.
The Montral CMA also recorded an increase in total SAAR housing starts, however, it was less pronounced at 8%.
All 3 CMAs recorded increases in both single-detached and multi-unit starts.
June Standalone Seasonally Adjusted Annual Rate (SAAR)
The standalone monthly SAAR of total housing starts for all areas in Canada in June was 281,373 units, an increase of 41% from May. This represents the largest month-to-month SAAR change in the last 10 years. It is mostly due to multi-unit starts which accounted for about 82% of total starts.
The SAAR of total urban starts increased by 46% in June to 262,815 units.
Multi-unit urban starts increased by 59% to 219,914 units in June.
Single-detached urban starts increased by 3% to 42,901 units.
Rural starts were estimated at a seasonally adjusted annual rate of 18,558 units.