Housing starts declined in March Français

News provided by

Canada Mortgage and Housing Corporation

Apr 19, 2023, 08:13 ET

OTTAWA, ON, April 19, 2023 /CNW/ - The standalone monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada declined 11% in March (213,865 units) compared to February (240,927 units) according to Canada Mortgage and Housing Corporation (CMHC).

The monthly SAAR of total urban starts (centres 10,000 population and over) declined 12%, with 192,545 units recorded in March. Multi-unit urban starts decreased 11% to 151,769 units, while single-detached urban starts decreased 16% to 40,776 units.

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Housing Starts in Canada - All Areas (CNW Group/Canada Mortgage and Housing Corporation)
Housing Starts in Canada - All Areas (CNW Group/Canada Mortgage and Housing Corporation)
Bob Dugan, Chief Economist, Canada Mortgage and Housing Corporation (CNW Group/Canada Mortgage and Housing Corporation)
Bob Dugan, Chief Economist, Canada Mortgage and Housing Corporation (CNW Group/Canada Mortgage and Housing Corporation)

Among the Vancouver, Toronto, and Montreal CMAs, only Vancouver recorded an increase in total SAAR housing starts in March, up 98% due to more than twice as many multi-unit starts compared to February. Montreal declined 12% and Toronto declined 26%.

The rural starts monthly SAAR estimate was 21,320 units.

The trend in housing starts was 240,669 units in March, down 6% from 254,658 units in February. The trend measure is a six-month moving average of the monthly SAAR of total housing starts for all areas in Canada.

Quote:

" Despite the national decline in March, the SAAR of housing starts and the trend appear to be returning to pre-pandemic levels. With interest rates remaining high, it continues to be challenging for developers and homebuilders to get projects started. We will need to find innovative ways to deliver more housing supply to keep up with demand and ultimately improve affordability," said Bob Dugan, CMHC's Chief Economist.

Key Facts:

  • 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 April 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 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.

For more information, visit our website at https://www.cmhc-schl.gc.ca/en, and follow us on Twitter, YouTube, LinkedIn, Facebook and Instagram.

Related Links:

Housing Start Data in Centres 10,000 Population and Over


Single-Detached

All Others

Total

March 2022

March 2023

%

March 2022

March 2023

%

March 2022

March 2023

%

Provinces (10,000+)








N.-L.

29

10

-66

14

2

-86

43

12

-72

P.E.I.   

20

7

-65

53

7

-87

73

14

-81

N.S.   

60

92

53

75

139

85

135

231

71

N.B.   

17

19

12

269

42

-84

286

61

-79

Atlantic

126

128

2

411

190

-54

537

318

-41

Qc

484

224

-54

3,497

1,575

-55

3,981

1,799

-55

Ont.   

1,630

1,102

-32

4,584

4,690

2

6,214

5,792

-7

Man.   

103

110

7

434

496

14

537

606

13

Sask.   

104

56

-46

56

158

182

160

214

34

Alta.   

1,079

698

-35

1,200

1,311

9

2,279

2,009

-12

Prairies

1,286

864

-33

1,690

1,965

16

2,976

2,829

-5

B.C.   

646

399

-38

1,745

3,619

107

2,391

4,018

68

Canada (10,000+)

4,172

2,717

-35

11,927

12,039

1

16,099

14,756

-8

Metropolitan Areas








Abbotsford-Mission

42

20

-52

45

13

-71

87

33

-62

Barrie

65

45

-31

287

33

-89

352

78

-78

Belleville - Quinte West

9

3

-67

0

4

##

9

7

-22

Brantford

30

21

-30

28

33

18

58

54

-7

Calgary

543

341

-37

699

753

8

1,242

1,094

-12

Chilliwack

48

9

-81

174

0

-100

222

9

-96

Drummondville

33

8

-76

27

37

37

60

45

-25

Edmonton

454

282

-38

462

525

14

916

807

-12

Fredericton

6

7

17

195

4

-98

201

11

-95

Greater/Grand Sudbury

10

5

-50

17

4

-76

27

9

-67

Guelph

21

3

-86

0

255

##

21

258

##

Halifax

41

41

-

56

123

120

97

164

69

Hamilton

75

19

-75

152

46

-70

227

65

-71

Kamloops

19

3

-84

5

8

60

24

11

-54

Kelowna

52

62

19

149

207

39

201

269

34

Kingston

7

13

86

0

15

##

7

28

300

Kitchener-Cambridge-Waterloo

58

97

67

275

58

-79

333

155

-53

Lethbridge

7

5

-29

6

0

-100

13

5

-62

London

97

32

-67

107

164

53

204

196

-4

Moncton

3

1

-67

74

2

-97

77

3

-96

Montréal

141

61

-57

1,756

757

-57

1,897

818

-57

Nanaimo

37

13

-65

30

9

-70

67

22

-67

Oshawa

90

47

-48

66

32

-52

156

79

-49

Ottawa-Gatineau

199

129

-35

1,119

1,155

3

1,318

1,284

-3

  Gatineau

64

30

-53

457

103

-77

521

133

-74

  Ottawa

135

99

-27

662

1,052

59

797

1,151

44

Peterborough

29

17

-41

0

0

-

29

17

-41

Québec

107

44

-59

766

239

-69

873

283

-68

Red Deer

2

3

50

0

2

##

2

5

150

Regina

28

5

-82

39

70

79

67

75

12

Saguenay

14

3

-79

20

11

-45

34

14

-59

St. Catharines-Niagara

55

56

2

80

40

-50

135

96

-29

Saint John

7

5

-29

0

0

-

7

5

-29

St. John's

28

10

-64

14

2

-86

42

12

-71

Saskatoon

70

50

-29

16

61

281

86

111

29

Sherbrooke

22

12

-45

74

118

59

96

130

35

Thunder Bay

0

0

-

0

0

-

0

0

-

Toronto

546

402

-26

2,617

2,780

6

3,163

3,182

1

Trois-Rivières

13

6

-54

6

41

##

19

47

147

Vancouver

261

193

-26

902

2,823

213

1,163

3,016

159

Victoria

60

28

-53

61

297

387

121

325

169

Windsor

50

14

-72

10

34

240

60

48

-20

Winnipeg

78

97

24

305

436

43

383

533

39

Total

3,457

2,212

-36

10,639

11,191

5

14,096

13,403

-5

Data for 2022 based on 2016 Census Definitions and data for 2023 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 2023

March 2023

%

February 2023

March 2023

%

February 2023

March 2023

%

Provinces (10,000+)








N.L.

545

470

-14

3

26

##

548

496

-9

P.E.I.   

403

288

-29

192

84

-56

595

372

-37

N.S.   

1,481

1,866

26

2,465

1,735

-30

3,946

3,601

-9

N.B.   

1,380

1,232

-11

144

573

298

1,524

1,805

18

Qc  

5,677

3,556

-37

33,111

23,447

-29

38,788

27,003

-30

Ont.   

19,261

16,343

-15

76,846

59,038

-23

96,107

75,381

-22

Man.   

1,780

1,564

-12

6,612

5,952

-10

8,392

7,516

-10

Sask.   

565

804

42

5,232

1,896

-64

5,797

2,700

-53

Alta.   

12,305

9,839

-20

17,392

15,838

-9

29,697

25,677

-14

B.C.   

5,359

4,814

-10

29,033

43,180

49

34,392

47,994

40

Canada (10,000+)

48,756

40,776

-16

171,030

151,769

-11

219,786

192,545

-12

Canada (All Areas)

64,021

56,468

-12

176,905

157,395

-11

240,927

213,865

-11

Metropolitan Areas

Abbotsford-Mission

272

227

-17

924

156

-83

1,196

383

-68

Barrie

889

1,121

26

1,728

396

-77

2,617

1,517

-42

Belleville - Quinte West

192

91

-53

348

48

-86

540

139

-74

Brantford

592

250

-58

636

396

-38

1,228

646

-47

Calgary

5,608

5,093

-9

10,164

9,036

-11

15,772

14,129

-10

Chilliwack

139

89

-36

139

0

-100

199

89

-55

Drummondville

93

85

-9

360

444

23

453

529

17

Edmonton

4,609

3,714

-19

6,492

6,300

-3

11,101

10,014

-10

Fredericton

528

420

-20

84

48

-43

612

468

-24

Greater/Grand Sudbury

7,651

215

-97

0

48

##

7,651

263

-97

Guelph

86

48

-44

4,068

3,060

-25

4,154

3,108

-25

Halifax

320

816

155

2,052

1,476

-28

2,372

2,292

-3

Hamilton

374

254

-32

864

552

-36

1,238

806

-35

Kamloops

46

46

-

12

96

##

58

142

145

Kelowna

278

657

136

5,460

2,484

-55

5,738

3,141

-45

Kingston

790

286

-64

240

180

-25

1,030

466

-55

Kitchener-Cambridge-Waterloo

1,079

1,204

12

3,840

696

-82

4,919

1,900

-61

Lethbridge

89

97

9

72

0

-100

161

97

-40

London

443

468

6

204

1,968

##

647

2,436

277

Moncton

185

124

-33

0

24

##

185

148

-20

Montréal

1,097

980

-11

10,286

9,075

-12

11,383

10,055

-12

Nanaimo

180

115

-36

1,260

108

-91

1,440

223

-85

Oshawa

413

547

32

336

384

14

749

931

24

Ottawa-Gatineau

3,079

1,849

-40

11,448

13,860

21

14,527

15,709

8

  Gatineau

1,842

580

-69

6,288

1,236

-80

8,130

1,816

-78

  Ottawa

1,237

1,269

3

5,160

12,624

145

6,397

13,893

117

Peterborough

160

262

64

0

0

-

160

262

64

Québec

541

612

13

5,964

2,868

-52

6,505

3,480

-47

Red Deer

64

59

-8

60

24

-60

124

83

-33

Regina

134

77

-43

2,040

840

-59

2,174

917

-58

Saguenay

685

121

-82

120

132

10

805

253

-69

St. Catharines-Niagara

1,253

907

-28

3,420

480

-86

4,673

1,387

-70

Saint John

275

248

-10

0

0

-

275

248

-10

St. John's

494

497

1

0

24

##

494

521

5

Saskatoon

373

657

76

2,868

732

-74

3,241

1,389

-57

Sherbrooke

186

165

-11

372

1,416

281

558

1,581

183

Thunder Bay

90

79

-12

0

0

-

90

79

-12

Toronto

7,695

5,516

-28

45,096

33,360

-26

52,791

38,876

-26

Trois-Rivières

310

168

-46

408

492

21

718

660

-8

Vancouver

2,968

2,485

-16

15,360

33,876

121

18,328

36,361

98

Victoria

423

340

-20

3,228

3,564

10

3,651

3,904

7

Windsor

307

375

22

2,364

408

-83

2,671

783

-71

Winnipeg

1,531

1,339

-13

6,084

5,232

-14

7,615

6,571

-14

Data for 2022 based on 2016 Census Definitions and data for 2023 based on 2021 Census Definitions.

Source: CMHC

## not calculable / extreme value.

SOURCE Canada Mortgage and Housing Corporation

To request an interview with a CMHC market analyst, contact: Media Relations, CMHC, [email protected]

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