Housing starts for April 2025
The total monthly SAAR of housing starts for all areas in Canada increased 30% in April (278,606 units) compared to March (214,205 units).
Actual housing starts were up 17% year-over-year in centres with a population of 10,000 or greater, with 21,720 units recorded in April, compared to 18,539 in April 2024. This marks the highest actual housing starts for the month of April on record, and pushed the year-to-date total to 67,022, down 2% from the same period in 2024.
"The increased starts activity in April was driven by increases across all housing types in Québec and the Prairie provinces, while starts in Ontario and British Columbia declined on a year-over-year basis again this month. The current economic uncertainty will have consequences for the supply and demand of new housing. CMHC will be monitoring these effects closely over the coming months," said Kevin Hughes, CMHC's Deputy Chief Economist.
Key Facts:
The monthly SAAR for Canada's centres with a population of 10,000 or greater increased 28% in April (259,788 units) compared to March (202,668 units).
The rural starts monthly SAAR estimate was 18,818 units.
Among Canada's big three cities, Montreal posted a 64% year-over-year increase in actual housing starts compared to April 2024, primarily driven by more multi-unit starts. Vancouver recorded a 6% increase in starts this month, also driven by higher multi-unit starts. Conversely, a decrease in multi-unit starts drove the 25% year-over-year decrease in Toronto's housing starts compared to last April.
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 May housing starts data on June 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.
Read about our 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 March 2025
2025 Housing Market Outlook
2024 Rental Market Report
Solving the housing crisis is a marathon not a sprint
High housing costs making it harder to move for jobs many are seeking
Canada's potential capacity for housing construction
SOURCE Canada Mortgage and Housing Corporation (CMHC)
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/15/c6753.html
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