Housing starts in Canada jumped by 14% over a month earlier to 253,468 units in February 2024, well above market expectations of 230,000 units, according to the Canada Mortgage and Housing Corporation. It was the highest reading in four months, as the monthly SAAR of total urban housing starts climbed 15%, with 238,633 units recorded. Multi-unit urban starts increased by 20% to 196,392 units, while single-detached urban starts decreased by 2% to 42,241 units. The rural starts monthly SAAR estimate was 14,835 units. "Following two consecutive monthly declines, both the SAAR and Trend of housing starts increased in February. This was due to growth in actual year-over-year starts, driven by higher multi-unit starts, particularly in Toronto and Vancouver. As the national housing shortage continues, the focus for developers continues to shift towards multi-unit construction in Canada's major centers," said Bob Dugan, CMHC's Chief Economist. source: Canada Mortgage And Housing Corporation
Housing Starts in Canada increased to 253.47 Thousand units in February from 223.18 Thousand units in January of 2024. Housing Starts in Canada averaged 191.70 Thousand units from 1977 until 2024, reaching an all time high of 321.28 Thousand units in March of 2021 and a record low of 90.70 Thousand units in August of 1982. This page provides the latest reported value for - Canada Housing Starts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Canada Housing Starts - data, historical chart, forecasts and calendar of releases - was last updated on March of 2024.
Housing Starts in Canada increased to 253.47 Thousand units in February from 223.18 Thousand units in January of 2024. Housing Starts in Canada is expected to be 263.00 Thousand units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Housing Starts is projected to trend around 250.00 Thousand units in 2025, according to our econometric models.