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Canada’s housing starts grew by 5% in September, signaling market growth

Canada’s housing starts grew by 5% in September, signaling market growth

Posted on October 17, 2024   |  

Canada’s housing starts rose by 5% in September, with the adjusted annual rate increasing to 223,808 units, up from 213,012 in August.

Urban housing starts grew by 6% to 210,002 units in September, compared to 199,035 units in August.

Housing starts in Canada’s urban areas increased by 2% in the first three quarters of 2024, reaching 168,897 homes, up from 165,559 in the same period in 2023.

Montreal saw a 15% increase in housing starts for 2024 so far, recovering from low construction levels in 2023.

Vancouver’s housing starts dropped 19% in 2024 compared to a record year in 2023.

Toronto’s housing starts are down 20% year-to-date in 2024, following high levels in 2023.

Urban multi-unit starts increased by 6% to 163,400 units, while single-detached urban homes rose by 5% to 46,602 units. Rural starts in September were estimated at 13,806 units.



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