Canadian Housing Starts Down in March

The total monthly seasonally adjusted annual rate of housing starts for Canada decreased 7% in March (242,195 units compared to 260,047 in February), according to the Canada Mortgage and Housing Corporation (CMHC), which provides unbiased housing-related data, research and market information. The six-month trend in housing starts dropped 1.6%, as well—from 247,971 units in February to 243,957 units in March.

However, the actual number of housing starts across Canada in urban centers with populations of 10,000 or more was up 16% over a year ago — 17,052 units in March compared to 14,756 units in March 2023. That increase, according to CMHC, was driven by higher multi-unit starts and higher single-detached starts. The highest year-over-year actual housing starts were seen in Toronto and Vancouver; actual starts dropped in Montreal, dragged down by lower multi-unit starts. 

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