Housing starts for November 2024

OTTAWA, ON, Dec. 16, 2024 /CNW/ - The six-month trend in housing starts was flat (-0.3%) in November at 243,268 units, according to Canada Mortgage and Housing Corporation (CMHC). The trend measure is a six-month moving average of the seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.

The total monthly SAAR of housing starts for all areas in Canada increased 8% in November (262,443 units) compared to October (242,207 units).

Housing Starts in Canada - All Areas (CNW Group/Canada Mortgage and Housing Corporation (CMHC))

A historically busy November for new home construction in Canada's centres with a population of 10,000 or greater saw 22,345 actual starts, pushing the year-to-date (January – November) total up to 210,912. This compares to 204,920 for the same period in 2023, a 3% increase.

Quote:

"Both the monthly SAAR and actual starts figures grew in November, driven primarily by multi-unit starts activity in Québec, Alberta and British Columbia. While Alberta, Québec and the Atlantic provinces are still pushing the national year-to-date starts higher, Canada still needs major increases in supply growth to restore affordability in our urban centres." said Mathieu Laberge, CMHC's Chief Economist and Senior Vice-President, Market Insights. "I also want to acknowledge Bob Dugan's over 20 years as CMHC's Chief Economist. His significant contributions have greatly enhanced our understanding of housing markets in Canada. We wish him all the best in his retirement."

Key Facts:

• The monthly SAAR of total urban (centres 10,000 population and over) housing starts was 9% higher (245,083 units). Multi-unit urban starts increased 11% (195,281 units), while single-detached urban starts increased 4% (49,802 units).
• The rural starts monthly SAAR estimate was 17,360 units.
• Actual year-to-date housing starts between January and November 2024 continue to climb in Montréal, up 22% from the historically low 2023 totals. Meanwhile, year-to-date starts in Vancouver and Toronto are still down 14% and 20% respectively from their historically high 2023 totals.
• Actual monthly starts in Montréal (143%) and Vancouver (52%) for November are both up significantly compared to November 2023, while actual starts in Toronto are flat.
• 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 December housing starts data on January 16 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.

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 plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. We actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. 

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Related Links:

• Housing starts for October 2024
• Fall 2024 Housing Supply Report
• Higher rates hindered housing starts in 2023
• Canada's potential capacity for housing construction

Housing Start Data in Centres 10,000 Population and Over
January - November 2023 - 2024
Area		Single-Detached			All Others			Total
Province
		2023	2024	%	2023	2024	%	2023	2024	%
N.L.		406	586	44	139	331	138	545	917	68
P.E.I.		185	237	28	574	985	72	759	1,222	61
N.S.		1,372	1,469	7	4,317	4,731	10	5,689	6,200	9
N.B.		823	912	11	2,784	3,685	32	3,607	4,597	27
Atlantic		2,786	3,204	15	7,814	9,732	25	10,600	12,936	22
Que.		3,939	4,036	2	25,923	34,740	34	29,862	38,776	30
Ont.		14,036	12,366	-12	66,353	54,745	-17	80,389	67,111	-17
Man.		1,555	1,617	4	4,081	4,090	0	5,636	5,707	1
Sask.		969	1,233	27	2,789	2,546	-9	3,758	3,779	1
Alta.		11,150	14,334	29	20,583	28,620	39	31,733	42,954	35
Prairies		13,674	17,184	26	27,453	35,256	28	41,127	52,440	28
B.C.		5,190	4,117	-21	37,752	35,532	-6	42,942	39,649	-8
Canada		39,625	40,907	3	165,295	170,005	3	204,920	210,912	3
Metropolitan Areas
Abbotsford-Mission		227	169	-26	917	884	-4	1,144	1,053	-8
Barrie		679	422	-38	1,528	504	-67	2,207	926	-58
Belleville - Quinte West		203	206	1	255	153	-40	458	359	-22
Brantford		367	196	-47	402	150	-63	769	346	-55
Calgary		5,337	6,586	23	12,749	16,066	26	18,086	22,652	25
Chilliwack		176	138	-22	360	415	15	536	553	3
Drummondville		144	155	8	421	837	99	565	992	76
Edmonton		4,519	6,408	42	6,908	10,531	52	11,427	16,939	48
Fredericton		260	294	13	711	428	-40	971	722	-26
Greater Sudbury		79	122	54	186	488	162	265	610	130
Guelph		78	57	-27	1,060	378	-64	1,138	435	-62
Halifax		525	738	41	3,801	4,015	6	4,326	4,753	10
Hamilton		275	385	40	2,792	1,758	-37	3,067	2,143	-30
Kamloops		93	85	-9	271	540	99	364	625	72
Kelowna		401	345	-14	2,188	3,426	57	2,589	3,771	46
Kingston		255	207	-19	1,113	325	-71	1,368	532	-61
Kitchener-Cambridge-Waterloo		803	349	-57	2,402	2,399	0	3,205	2,748	-14
Lethbridge		159	250	57	57	439	##	216	689	219
London		482	514	7	1,634	3,195	96	2,116	3,709	75
Moncton		225	262	16	1,651	2,447	48	1,876	2,709	44
Montréal		982	1,055	7	12,524	15,475	24	13,506	16,530	22
Nanaimo		189	163	-14	339	806	138	528	969	84
Oshawa		592	407	-31	1,220	1,162	-5	1,812	1,569	-13
Ottawa-Gatineau		1,728	1,724	0	9,445	9,010	-5	11,173	10,734	-4
Gatineau		309	365	18	2,419	3,072	27	2,728	3,437	26
Ottawa		1,419	1,359	-4	7,026	5,938	-15	8,445	7,297	-14
Peterborough		159	129	-19	43	179	316	202	308	52
Québec		521	577	11	4,387	6,171	41	4,908	6,748	37
Red Deer		70	89	27	110	253	130	180	342	90
Regina		194	270	39	779	853	9	973	1,123	15
Saguenay		178	181	2	467	580	24	645	761	18
St. Catharines-Niagara		873	623	-29	1,804	1,071	-41	2,677	1,694	-37
Saint John		207	215	4	269	490	82	476	705	48
St. John's		308	506	64	121	294	143	429	800	86
Saskatoon		728	887	22	1,699	1,607	-5	2,427	2,494	3
Sherbrooke		213	287	35	1,067	1,506	41	1,280	1,793	40
Thunder Bay		90	81	-10	154	208	35	244	289	18
Toronto		4,392	4,395	0	41,600	32,343	-22	45,992	36,738	-20
Trois-Rivières		170	189	11	1,129	1,360	20	1,299	1,549	19
Vancouver		2,678	2,020	-25	27,204	23,702	-13	29,882	25,722	-14
Victoria		358	262	-27	3,990	3,406	-15	4,348	3,668	-16
Windsor		287	443	54	894	1,614	81	1,181	2,057	74
Winnipeg		1,321	1,325	0	3,724	3,555	-5	5,045	4,880	-3
Total		31,525	33,716	7	154,375	155,023	0	185,900	188,739	2

1Data for 2021 and 2022 based on 2016 Census Definitions and data for 2023 and 2024 based on 2021 Census Definitions.

Source: CMHC Starts and Completion Survey, Market Absorption Survey

Housing Start Data in Centres 10,000 Population and Over
	Single-Detached			All Others			Total
	November 2023	November 2024	%	November 2023	November 2024	%	November 2023	November 2024	%
Provinces (10,000+)
N.-L.	36	76	111	24	43	79	60	119	98
P.E.I.	9	9	-	30	3	-90	39	12	-69
N.S.	115	137	19	905	327	-64	1,020	464	-55
N.B.	68	112	65	366	404	10	434	516	19
Atlantic	228	334	46	1,325	777	-41	1,553	1,111	-28
Qc	410	467	14	1,979	5,193	162	2,389	5,660	137
Ont.	1,306	1,430	9	4,366	4,076	-7	5,672	5,506	-3
Man.	161	148	-8	458	451	-2	619	599	-3
Sask.	115	145	26	328	293	-11	443	438	-1
Alta.	1,254	1,644	31	2,166	3,339	54	3,420	4,983	46
Prairies	1,530	1,937	27	2,952	4,083	38	4,482	6,020	34
B.C.	418	386	-8	2,684	3,662	36	3,102	4,048	30
Canada (10,000+)	3,892	4,554	17	13,306	17,791	34	17,198	22,345	30
Metropolitan Areas
Abbotsford-Mission	18	11	-39	374	76	-80	392	87	-78
Barrie	53	62	17	139	32	-77	192	94	-51
Belleville - Quinte West	35	29	-17	110	18	-84	145	47	-68
Brantford	34	24	-29	72	58	-19	106	82	-23
Calgary	594	717	21	1,214	1,831	51	1,808	2,548	41
Chilliwack	17	11	-35	90	133	48	107	144	35
Drummondville	13	14	8	91	140	54	104	154	48
Edmonton	510	789	55	839	1,354	61	1,349	2,143	59
Fredericton	26	36	38	74	108	46	100	144	44
Greater/Grand Sudbury	2	33	##	2	421	##	4	454	##
Guelph	10	8	-20	8	32	300	18	40	122
Halifax	54	76	41	802	226	-72	856	302	-65
Hamilton	21	57	171	69	17	-75	90	74	-18
Kamloops	2	7	250	1	284	##	3	291	##
Kelowna	29	32	10	20	20	-	49	52	6
Kingston	15	14	-7	0	9	##	15	23	53
Kitchener-Cambridge-Waterloo	79	35	-56	324	49	-85	403	84	-79
Lethbridge	14	37	164	0	28	##	14	65	364
London	59	55	-7	116	136	17	175	191	9
Moncton	13	37	185	257	220	-14	270	257	-5
Montréal	103	119	16	986	2,530	157	1,089	2,649	143
Nanaimo	41	26	-37	25	129	416	66	155	135
Oshawa	2	30	##	411	20	-95	413	50	-88
Ottawa-Gatineau	126	220	75	730	905	24	856	1,125	31
Gatineau	3	30	##	27	318	##	30	348	##
Ottawa	123	190	54	703	587	-17	826	777	-6
Peterborough	51	19	-63	16	51	219	67	70	4
Québec	45	66	47	224	1,011	351	269	1,077	300
Red Deer	11	13	18	0	2	##	11	15	36
Regina	24	25	4	115	17	-85	139	42	-70
Saguenay	8	20	150	32	76	138	40	96	140
St. Catharines-Niagara	81	75	-7	90	230	156	171	305	78
Saint John	18	29	61	5	46	##	23	75	226
St. John's	31	71	129	24	43	79	55	114	107
Saskatoon	85	113	33	190	251	32	275	364	32
Sherbrooke	26	48	85	81	219	170	107	267	150
Thunder Bay	4	11	175	14	6	-57	18	17	-6
Toronto	419	473	13	1,885	1,828	-3	2,304	2,301	0
Trois-Rivières	17	15	-12	74	68	-8	91	83	-9
Vancouver	195	200	3	1,566	2,478	58	1,761	2,678	52
Victoria	28	15	-46	435	294	-32	463	309	-33
Windsor	23	51	122	63	126	100	86	177	106
Winnipeg	127	116	-9	445	426	-4	572	542	-5
Total	3,063	3,839	25	12,013	15,948	33	15,076	19,787	31

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
	October 2024	November 2024	%	October 2024	November 2024	%	October 2024	November 2024	%
Provinces (10,000+)
N.L.	658	995	51	759	575	-24	1,417	1,570	11
P.E.I.	256	122	-52	1,032	36	-97	1,288	158	-88
N.S.	1,769	1,701	-4	2,464	3,897	58	4,233	5,598	32
N.B.	1,005	1,232	23	3,643	4,834	33	4,648	6,066	31
Qc	4,368	4,803	10	38,206	48,536	27	42,574	53,339	25
Ont.	15,324	14,951	-2	49,278	44,399	-10	64,602	59,350	-8
Man.	1,863	1,686	-10	6,396	5,412	-15	8,259	7,098	-14
Sask.	1,750	1,620	-7	3,036	3,516	16	4,786	5,136	7
Alta.	16,426	18,106	10	35,763	40,074	12	52,189	58,180	11
B.C.	4,583	4,586	0	35,913	44,002	23	40,496	48,588	20
Canada (10,000+)	48,002	49,802	4	176,490	195,281	11	224,492	245,083	9
Canada (All Areas)	59,259	60,781	3	182,950	201,661	10	242,207	262,443	8
Metropolitan Areas
Abbotsford-Mission	148	122	-18	624	912	46	772	1,034	34
Barrie	469	633	35	312	384	23	781	1,017	30
Belleville - Quinte West	172	246	43	144	216	50	316	462	46
Brantford	30	147	390	636	696	9	666	843	27
Calgary	7,026	8,114	15	24,552	21,972	-11	31,578	30,086	-5
Chilliwack	85	133	56	85	1,596	##	133	1,729	##
Drummondville	196	147	-25	912	1,680	84	1,108	1,827	65
Edmonton	7,599	8,960	18	9,720	16,248	67	17,319	25,208	46
Fredericton	360	396	10	480	1,296	170	840	1,692	101
Greater/Grand Sudbury	346	380	10	108	5,052	##	454	5,432	##
Guelph	65	66	2	48	384	##	113	450	298
Halifax	875	939	7	1,284	2,712	111	2,159	3,651	69
Hamilton	887	748	-16	600	204	-66	1,487	952	-36
Kamloops	112	79	-29	720	3,408	373	832	3,487	319
Kelowna	446	414	-7	228	240	5	674	654	-3
Kingston	244	169	-31	2,004	108	-95	2,248	277	-88
Kitchener-Cambridge-Waterloo	275	356	29	3,456	588	-83	3,731	944	-75
Lethbridge	211	432	105	72	336	367	283	768	171
London	448	518	16	5,664	1,632	-71	6,112	2,150	-65
Moncton	294	521	77	2,928	2,640	-10	3,222	3,161	-2
Montréal	1,150	1,171	2	15,221	30,106	98	16,371	31,277	91
Nanaimo	243	308	27	84	1,548	##	327	1,856	468
Oshawa	456	380	-17	96	240	150	552	620	12
Ottawa-Gatineau	1,482	2,265	53	14,232	10,860	-24	15,714	13,125	-16
Gatineau	390	352	-10	8,040	3,816	-53	8,430	4,168	-51
Ottawa	1,092	1,913	75	6,192	7,044	14	7,284	8,957	23
Peterborough	89	102	15	180	612	240	269	714	165
Québec	622	668	7	4,392	12,132	176	5,014	12,800	155
Red Deer	114	125	10	48	24	-50	162	149	-8
Regina	491	301	-39	1,224	204	-83	1,715	505	-71
Saguenay	108	227	110	3,468	912	-74	3,576	1,139	-68
St. Catharines-Niagara	483	654	35	720	2,760	283	1,203	3,414	184
Saint John	213	273	28	72	552	##	285	825	189
St. John's	544	793	46	660	516	-22	1,204	1,309	9
Saskatoon	1,238	1,251	1	1,536	3,012	96	2,774	4,263	54
Sherbrooke	300	463	54	4,008	2,628	-34	4,308	3,091	-28
Thunder Bay	107	97	-9	864	72	-92	971	169	-83
Toronto	5,900	4,780	-19	23,472	21,936	-7	29,372	26,716	-9
Trois-Rivières	150	176	17	276	816	196	426	992	133
Vancouver	2,044	2,312	13	28,392	29,736	5	30,436	32,048	5
Victoria	326	206	-37	3,144	3,528	12	3,470	3,734	8
Windsor	607	625	3	1,128	1,512	34	1,735	2,137	23
Winnipeg	1,592	1,376	-14	6,180	5,112	-17	7,772	6,488	-17

Data for 2023 and 2024 based on 2021 Census Definitions.

Source: CMHC

## not calculable / extreme value

SOURCE Canada Mortgage and Housing Corporation (CMHC)

Information on this release: To request an interview with a CMHC economist, contact: Media Relations, CMHC, [email protected]