RE:RE:!!!!!!!!!,,,,,,,,,,NEW 3 Year HIGH..............!!!!!!!!!! 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.
October monthly housing starts key highlights
- The trend in housing starts was flat at 243,522 units in October 2024.
- 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.
- Actual year-to-date housing starts between January and October 2024 are up 12% in Montral from the same period last year, showing some recovery from historically low new home construction in 2023.
- In Vancouver, actual starts are down 18% 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 21% from 2023, which was also a high year for housing starts by historical standards.
October Standalone Seasonally Adjusted Annual Rate (SAAR)
- The seasonally adjusted annual rate of total urban housing starts in centers with populations of 10,000 or more was 6% higher at 223,111 units.
- Multi-unit urban starts increased 7%, to 175,705 units.
- Single-detached urban starts increased by 1%, totaling 47,406 units.
- Rural starts were estimated at a seasonally adjusted annual rate of 17,650 units.
- Author:
- CMHC
- Document Type:
- Excel
- Date Published:
- November 18, 2024