Housing starts for March 2024
OTTAWA, ON, April 16, 2024 /CNW/ – The total monthly seasonally adjusted annual rate (SAAR) of housing starts for all areas in Canada decreased 7% in March (242,195 units) compared to February (260,047), according to Canada Mortgage and Housing Corporation (CMHC).
The six-month trend in housing starts decreased 1.6% from 247,971 units in February to 243,957 units in March. The trend measure is a six-month moving average of the SAAR of total housing starts for all areas in Canada.
The actual number of housing starts across Canada in urban centres of 10,000 population and over was up 16% to 17,052 units in March compared to 14,756 units in March 2023. The year-over-year increase was driven by higher multi-unit starts, up 19% and higher single-detached starts, up 2%.
March’s actual housing starts were 10% and 15% higher year-over-year in Toronto and Vancouver, respectively, because of higher multi-unit starts, while single-detached starts decreased. Montreal’s actual starts decreased 1%, dragged down by lower multi-unit starts.
Key Facts:
The monthly SAAR of total urban (centres 10,000 population and over) housing starts decreased 7%, with 220,743 units recorded. Multi-unit urban starts decreased 8% to 180,229 units, while single-detached urban starts decreased 4% to 40,514 units.The rural starts monthly SAAR estimate was 21,452 units.Total SAAR housing starts were up 27% in Vancouver, driven by an increase in multi-unit starts. Toronto and Montreal declined 26% and 5%, respectively due to decreases in multi-unit starts.Monthly Housing Starts and Other Construction Data are accessible in English and French on our website and the CMHC Housing Market Information Portal.Housing starts data is available on the eleventh business day each month. We will release the March housing starts data on May 15 at 8:15 AM ET.CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and to obtain a clearer picture of upcoming new housing supply. In some situations, analyzing only SAAR data can be misleading, as the multi-unit segment largely drives the market and can vary significantly from one month to the next.Definitions and methodology to better understand the foundations of the Starts and Completions and Market Absorption surveys.
As a trusted source of housing information, CMHC provides unbiased housing-related data, research, and market information to help close knowledge gaps, and deepen understanding of complex housing issues to inform future policy decisions. Housing starts facilitate the analysis of monthly, quarterly, and year-over-year activity in the new home market. The data we collect as part of our Starts and Completions and Market Absorption surveys helps us obtain a clearer picture of upcoming new housing supply and is used as part of our various housing reports.
CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to all levels of governments, consumers and the housing industry.
Follow us on X (formerly Twitter), YouTube, LinkedIn, Facebook and Instagram.
Related Links:
2024 Rental Market ReportCMHC 2023: Housing reports retrospective
Housing Start Data in Centres 10,000 Population and Over
Single-Detached
All Others
Total
March
2023
March
2024
%
March
2023
March
2024
%
March
2023
March
2024
%
Provinces (10,000+)
N.-L.
10
8
-20
2
1
-50
12
9
-25
P.E.I.
7
1
-86
7
54
##
14
55
293
N.S.
92
88
-4
139
482
247
231
570
147
N.B
19
17
-11
42
34
-19
61
51
-16
Atlantic
128
114
-11
190
571
201
318
685
115
Qc
224
293
31
1,575
1,959
24
1,799
2,252
25
Ont.
1,102
916
-17
4,690
4,606
-2
5,792
5,522
-5
Man.
110
117
6
496
247
-50
606
364
-40
Sask.
56
76
36
158
164
4
214
240
12
Alta.
698
1,000
43
1,311
2,122
62
2,009
3,122
55
Prairies
864
1,193
38
1,965
2,533
29
2,829
3,726
32
B.C.
399
266
-33
3,619
4,601
27
4,018
4,867
21
Canada (10,000+)
2,717
2,782
2
12,039
14,270
19
14,756
17,052
16
Metropolitan Areas
Abbotsford-Mission
20
8
-60
13
144
##
33
152
361
Barrie
45
43
-4
33
4
-88
78
47
-40
Belleville – Quinte West
3
13
333
4
1
-75
7
14
100
Brantford
21
20
-5
33
0
-100
54
20
-63
Calgary
341
532
56
753
1,228
63
1,094
1,760
61
Chilliwack
9
7
-22
0
125
##
9
132
##
Drummondville
8
20
150
37
32
-14
45
52
16
Edmonton
282
370
31
525
792
51
807
1,162
44
Fredericton
7
6
-14
4
0
-100
11
6
-45
Greater/Grand Sudbury
5
0
-100
4
0
-100
9
0
-100
Guelph
3
4
33
255
6
-98
258
10
-96
Halifax
41
50
22
123
445
262
164
495
202
Hamilton
19
35
84
46
17
-63
65
52
-20
Kamloops
3
13
333
8
2
-75
11
15
36
Kelowna
62
16
-74
207
379
83
269
395
47
Kingston
13
6
-54
15
9
-40
28
15
-46
Kitchener-Cambridge-Waterloo
97
53
-45
58
75
29
155
128
-17
Lethbridge
5
9
80
0
2
##
5
11
120
London
32
42
31
164
507
209
196
549
180
Moncton
1
2
100
2
14
##
3
16
433
Montréal
61
72
18
757
738
-3
818
810
-1
Nanaimo
13
2
-85
9
1
-89
22
3
-86
Oshawa
47
24
-49
32
78
144
79
102
29
Ottawa-Gatineau
129
113
-12
1,155
594
-49
1,284
707
-45
Gatineau
30
15
-50
103
149
45
133
164
23
Ottawa
99
98
-1
1,052
445
-58
1,151
543
-53
Peterborough
17
13
-24
0
0
–
17
13
-24
Québec
44
29
-34
239
520
118
283
549
94
Red Deer
3
6
100
2
2
–
5
8
60
Regina
5
19
280
70
74
6
75
93
24
Saguenay
3
23
##
11
29
164
14
52
271
St. Catharines-Niagara
56
43
-23
40
80
100
96
123
28
Saint John
5
6
20
0
0
–
5
6
20
St. John’s
10
4
-60
2
1
-50
12
5
-58
Saskatoon
50
51
2
61
88
44
111
139
25
Sherbrooke
12
18
50
118
134
14
130
152
17
Thunder Bay
0
1
##
0
24
##
0
25
##
Toronto
402
352
-12
2,780
3,142
13
3,182
3,494
10
Trois-Rivières
6
3
-50
41
31
-24
47
34
-28
Vancouver
193
117
-39
2,823
3,339
18
3,016
3,456
15
Victoria
28
30
7
297
429
44
325
459
41
Windsor
14
22
57
34
22
-35
48
44
-8
Winnipeg
97
103
6
436
234
-46
533
337
-37
Total
2,212
2,300
4
11,191
13,342
19
13,403
15,642
17
Data for 2023 and 2024 based on 2021 Census Definitions.
Source: CMHC
## not calculable / extreme
value
Housing Start Data – Seasonally Adjusted at Annual Rates (SAAR)
Single-Detached
All Others
Total
February
2024
March
2024
%
February
2024
March
2024
%
February
2024
March
2024
%
Provinces (10,000+)
N.L.
631
319
-49
67
13
-81
698
332
-52
P.E.I.
60
41
-32
120
648
440
180
689
283
N.S.
1,639
1,682
3
10,388
5,838
-44
12,027
7,520
-37
N.B.
1,095
871
-20
3,998
560
-86
5,093
1,431
-72
Qc
5,442
5,071
-7
29,992
30,709
2
35,434
35,780
1
Ont.
10,707
12,526
17
74,024
57,297
-23
84,731
69,823
-18
Man.
1,895
1,768
-7
2,496
2,964
19
4,391
4,732
8
Sask.
1,023
1,166
14
1,824
1,968
8
2,847
3,134
10
Alta.
14,800
13,495
-9
32,789
25,137
-23
47,589
38,632
-19
B.C.
4,554
3,575
-21
39,766
55,095
39
44,320
58,670
32
Canada (10,000+)
41,846
40,514
-3
195,464
180,229
-8
237,310
220,743
-7
Canada (All Areas)
53,937
52,047
-4
206,108
190,152
-8
260,047
242,195
-7
Metropolitan Areas
Abbotsford-Mission
76
101
33
672
1,728
157
748
1,829
145
Barrie
569
836
47
96
48
-50
665
884
33
Belleville – Quinte West
397
404
2
840
12
-99
1,237
416
-66
Brantford
251
310
24
96
0
-100
347
310
-11
Calgary
6,983
7,244
4
14,568
14,736
1
21,551
21,980
2
Chilliwack
210
81
-61
210
1,500
##
306
1,581
417
Drummondville
112
199
78
444
384
-14
556
583
5
Edmonton
5,757
5,329
-7
14,496
9,504
-34
20,253
14,833
-27
Fredericton
370
322
-13
0
0
–
370
322
-13
Greater/Grand Sudbury
##
##
##
##
##
##
##
##
##
Guelph
40
53
33
1,152
72
-94
1,192
125
-90
Halifax
930
1,047
13
10,044
5,340
-47
10,974
6,387
-42
Hamilton
243
498
105
2,292
204
-91
2,535
702
-72
Kamloops
261
257
-2
108
24
-78
369
281
-24
Kelowna
437
227
-48
3,720
4,548
22
4,157
4,775
15
Kingston
330
169
-49
192
108
-44
522
277
-47
Kitchener-Cambridge-Waterloo
227
582
156
1,776
900
-49
2,003
1,482
-26
Lethbridge
267
247
-7
96
24
-75
363
271
-25
London
301
643
114
2,304
6,084
164
2,605
6,727
158
Moncton
252
323
28
2,016
168
-92
2,268
491
-78
Montréal
1,134
1,153
2
9,334
8,788
-6
10,468
9,941
-5
Nanaimo
160
20
-88
48
12
-75
208
32
-85
Oshawa
375
289
-23
720
936
30
1,095
1,225
12
Ottawa-Gatineau
1,214
1,693
39
6,300
7,128
13
7,514
8,821
17
Gatineau
638
261
-59
1,296
1,788
38
1,934
2,049
6
Ottawa
576
1,432
149
5,004
5,340
7
5,580
6,772
21
Peterborough
146
194
33
0
0
–
146
194
33
Québec
548
381
-30
3,360
6,240
86
3,908
6,621
69
Red Deer
13
123
##
1,992
24
-99
2,005
147
-93
Regina
196
318
62
744
888
19
940
1,206
28
Saguenay
599
986
65
264
348
32
863
1,334
55
St. Catharines-Niagara
1,040
755
-27
1,044
960
-8
2,084
1,715
-18
Saint John
361
221
-39
1,416
0
-100
1,777
221
-88
St. John’s
445
234
-47
24
12
-50
469
246
-48
Saskatoon
771
727
-6
1,056
1,056
–
1,827
1,783
-2
Sherbrooke
349
302
-13
216
1,608
##
565
1,910
238
Thunder Bay
1,014
929
-8
0
288
##
1,014
1,217
20
Toronto
3,684
4,260
16
52,944
37,704
-29
56,628
41,964
-26
Trois-Rivières
122
87
-29
1,560
372
-76
1,682
459
-73
Vancouver
2,002
1,652
-17
30,792
40,068
30
32,794
41,720
27
Victoria
384
338
-12
2,928
5,148
76
3,312
5,486
66
Windsor
175
367
110
48
264
450
223
631
183
Winnipeg
1,639
1,528
-7
2,340
2,808
20
3,979
4,336
9
Data for 2023 and 2024 based on 2021 Census Definitions.
Source: CMHC
## not calculable / extreme
value
SOURCE Canada Mortgage and Housing Corporation (CMHC)
You may also like
CRB’s new St. Louis office emphasizes collaboration, focuses on employee and client experiences
Natural light, open layout, and local touches create a “uniquely CRB and uniquely St. Louis
xcube launches CVPE: A New Asset Class for Family Offices and UHNWIs
SINGAPORE, March 12, 2024 /PRNewswire/ — Singapore-based corporate venture studio xcube has an
Fibocom builds AI-specialized ‘π’ shape strategy upon 5G, AI, IoT to empower industry transformation at Computex 2024
TAIPEI, June 4, 2024 /PRNewswire/ — The wave of intelligence is revolutionizing industries glo
