(Ottawa) The number of housing starts increased by 2% last year in the country compared to 2023, reports the Canada Mortgage and Housing Corporation (CMHC), notably thanks to increases in Quebec, in the Atlantic provinces and Alberta.
Posted at 10:11 a.m.
The total number of housing starts rose to 245,120 units in 2024, compared to 240,267 the previous year.
CMHC notes that housing starts in Canada’s six largest census metropolitan areas saw a combined decline of 3% in 2024.
This decrease is explained by the drop in housing starts in Vancouver, Toronto and Ottawa, “where the condominium market was weak”.
Conversely, housing starts increased in Montreal, Calgary and Edmonton, where the increases mainly occurred in the collective housing segment.
For the month of December alone, the monthly seasonally adjusted annualized number of national housing starts decreased by 13% compared to November.
This decline occurred as the monthly seasonally adjusted annualized number of housing starts fell 14% in urban centers, to 214,000 units.
It fell 15% in the multi-family segment, which includes apartments, condominiums and townhouses, while it lost 10% in the single-family segment.
The monthly seasonally adjusted and annualized number of housing starts was estimated at 17,468 units in rural areas.
Canada
