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Associated Press

Housing starts for January 2025

OTTAWA, ON, Feb. 17, 2025 /CNW/ - The six-month trend in housing starts declined 2.5% in January to 236,892 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 3% in January (239,739 units) compared to December (232,492 units). Actual housing starts were up 7% year-over-year in centres with a population of 10,000 or greater, with 15,930 units recorded in January 2025, compared to 14,883 in January 2024. Quote: 'Both the monthly SAAR and actual housing starts increased in Canada's urban centres in January. This was primarily driven by an 8% increase in multi-unit starts, particularly purpose-built rentals concentrated in Quebec and British Columbia. While these increases show early signs of progress to begin the year, foreign trade risks add significant uncertainty for housing construction going forward,' said Tania Bourassa-Ochoa, CMHC's Deputy Chief Economist. 'In our recently released Housing Market Outlook, CMHC projected housing starts to slow down from 2025 to 2027, mainly due to decreases in condominium apartment starts.' Key Facts: The monthly SAAR for Canada's centres with a population of 10,000 or greater also increased 3% in January (220,643 units) compared to December (215,052 units). The rural starts monthly SAAR estimate was 19,096 units. Among Canada's three largest cities, Montreal posted a 112% year-over-year increase in actual housing starts in January while Vancouver recorded a 37% increase, both driven by higher multi-unit starts. Starts in Toronto fell 41% from January 2024, driven by 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 11th business day each month. February housing starts data will be released on March 17 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. Housing Start Data in Centres 10,000 Population and Over Single-Detached All Others Total January 2024 January 2025 % January 2024 January 2025 % January 2024 January 2025 % Provinces (10,000+) N.-L. 38 33 -13 36 23 -36 74 56 -24 P.E.I. 17 11 -35 67 188 181 84 199 ## N.S. 104 114 10 351 516 47 455 630 38 N.B. 28 30 7 215 48 -78 243 78 -68 Atlantic 187 188 1 669 775 16 856 963 13 Qc 237 256 8 2,347 3,749 60 2,584 4,005 55 Ont. 661 495 -25 5,073 3,575 -30 5,734 4,070 -29 Man. 110 145 32 191 251 31 301 396 32 Sask. 60 59 -2 157 139 -11 217 198 -9 Alta. 815 979 20 2,114 2,220 5 2,929 3,199 9 Prairies 985 1,183 20 2,462 2,610 6 3,447 3,793 10 B.C. 260 264 2 2,002 2,835 42 2,262 3,099 37 Canada (10,000+) 2,330 2,386 2 12,553 13,544 8 14,883 15,930 7 Metropolitan Areas Abbotsford-Mission 16 10 -38 78 280 259 94 290 ## Barrie 20 3 -85 8 18 125 28 21 -25 Belleville - Quinte West 7 6 -14 0 0 - 7 6 -14 Brantford 13 11 -15 0 242 ## 13 253 ## Calgary 487 552 13 1,464 1,077 -26 1,951 1,629 -17 Chilliwack 8 10 25 1 4 300 9 14 56 Drummondville 4 10 ## 1 18 ## 5 28 ## Edmonton 242 332 37 441 879 99 683 1,211 77 Fredericton 8 10 25 7 2 -71 15 12 -20 Greater/Grand Sudbury 0 2 ## 2 0 ### 2 2 - Guelph 2 1 -50 0 1 ## 2 2 - Halifax 51 60 18 289 451 56 340 511 50 Hamilton 47 13 -72 204 17 -92 251 30 -88 Kamloops 1 11 ## 1 8 ## 2 19 ## Kelowna 11 17 55 107 343 221 118 360 ## Kingston 9 4 -56 2 166 ## 11 170 ## Kitchener-Cambridge-Waterloo 14 17 21 167 179 7 181 196 8 Lethbridge 15 22 47 88 103 17 103 125 21 London 27 32 19 155 22 -86 182 54 -70 Moncton 5 8 60 95 8 -92 100 16 -84 Montréal 63 101 60 1,134 2,439 115 1,197 2,540 ## Nanaimo 27 4 -85 177 0 ### 204 4 -98 Oshawa 17 6 -65 312 0 ### 329 6 -98 Ottawa-Gatineau 93 103 11 308 685 122 401 788 97 Gatineau 11 12 9 181 310 71 192 322 68 Ottawa 82 91 11 127 375 195 209 466 ## Peterborough 5 6 20 0 0 - 5 6 20 Québec 25 38 52 538 488 -9 563 526 -7 Red Deer 5 16 ## 6 12 100 11 28 ## Regina 5 7 40 110 96 -13 115 103 -10 Saguenay 24 9 -63 18 48 167 42 57 36 St. Catharines-Niagara 57 28 -51 38 83 118 95 111 17 Saint John 9 7 -22 90 26 -71 99 33 -67 St. John's 34 30 -12 36 22 -39 70 52 -26 Saskatoon 51 49 -4 46 41 -11 97 90 -7 Sherbrooke 17 8 -53 67 53 -21 84 61 -27 Thunder Bay 0 3 ## 6 14 133 6 17 ## Toronto 281 219 -22 3,724 2,149 -42 4,005 2,368 -41 Trois-Rivières 9 11 22 88 40 -55 97 51 -47 Vancouver 121 141 17 1,342 1,866 39 1,463 2,007 37 Victoria 11 15 36 171 90 -47 182 105 -42 Windsor 11 13 18 196 31 -84 207 44 -79 Winnipeg 99 133 34 171 236 38 270 369 37 Total 1,951 2,078 7 11,688 12,237 5 13,639 14,315 5 Data for 2022 based on 2016 Census Definitions and data for 2023, 2024 and 2025 based on 2021 Census Definitions. Source: CMHC Starts and Completion Survey, Market Absorption Survey ## not calculable / extreme value Housing Start Data - Seasonally Adjusted at Annual Rates (SAAR) Single-Detached All Others Total December 2024 January 2025 % December 2024 January 2025 % December 2024 January 2025 % Provinces (10,000+) N.L. 633 707 12 566 274 -52 1,199 981 -18 P.E.I. 294 267 -9 984 2,256 129 1,278 2,523 97 N.S. 1,700 1,872 10 3,743 6,316 69 5,443 8,188 50 N.B. 806 964 20 4,022 785 -80 4,828 1,749 -64 Qc 5,854 5,961 2 35,910 52,399 46 41,764 58,360 40 Ont. 12,448 9,426 -24 50,988 47,571 -7 63,436 56,997 -10 Man. 1,656 2,081 26 3,228 3,012 -7 4,884 5,093 4 Sask. 1,508 1,289 -15 1,848 1,668 -10 3,356 2,957 -12 Alta. 16,208 16,918 4 27,197 27,901 3 43,405 44,819 3 B.C. 4,354 4,898 12 41,105 34,078 -17 45,459 38,976 -14 Canada (10,000+) 45,461 44,383 -2 169,591 176,260 4 215,052 220,643 3 Canada (All Areas) 57,284 57,299 0 175,207 182,443 4 232,492 239,739 3 Metropolitan Areas Abbotsford-Mission 187 193 3 1,404 3,360 139 1,591 3,553 123 Barrie 521 73 -86 6,576 216 -97 7,097 289 -96 Belleville - Quinte West 280 186 -34 60 0 ### 340 186 -45 Brantford 117 198 69 24 2,904 ## 141 3,102 ## Calgary 6,486 8,444 30 14,436 12,924 -10 20,922 21,368 2 Chilliwack 146 152 4 146 48 -67 1,178 200 -83 Drummondville 244 262 7 624 216 -65 868 478 -45 Edmonton 7,656 7,781 2 10,524 10,548 0 18,180 18,329 1 Fredericton 294 305 4 48 24 -50 342 329 -4 Greater/Grand Sudbury 127 104 -18 420 0 ### 547 104 -81 Guelph 96 21 -78 132 12 -91 228 33 -86 Halifax 749 1,030 38 3,000 5,412 80 3,749 6,442 72 Hamilton 423 220 -48 5,436 204 -96 5,859 424 -93 Kamloops 59 153 ## 24 96 300 83 249 200 Kelowna 135 396 ## 36 4,116 ## 171 4,512 ## Kingston 278 166 -40 5,412 1,992 -63 5,690 2,158 -62 Kitchener-Cambridge-Waterloo 349 428 23 7,632 2,148 -72 7,981 2,576 -68 Lethbridge 269 375 39 48 1,236 ## 317 1,611 408 London 630 624 -1 4,944 264 -95 5,574 888 -84 Moncton 283 412 46 3,252 96 -97 3,535 508 -86 Montréal 1,297 1,478 14 12,311 29,880 143 13,608 31,358 130 Nanaimo 111 66 -41 648 0 ### 759 66 -91 Oshawa 458 193 -58 48 0 ### 506 193 -62 Ottawa-Gatineau 2,691 2,358 -12 7,476 8,220 10 10,167 10,578 4 Gatineau 512 265 -48 2,184 3,720 70 2,696 3,985 48 Ottawa 2,179 2,093 -4 5,292 4,500 -15 7,471 6,593 -12 Peterborough 59 164 ## 0 0 - 59 164 178 Québec 230 781 ## 1,740 5,856 237 1,970 6,637 237 Red Deer 76 208 ## 60 144 140 136 352 159 Regina 243 208 -14 984 1,152 17 1,227 1,360 11 Saguenay 561 425 -24 1,224 576 -53 1,785 1,001 -44 St. Catharines-Niagara 384 475 24 288 996 246 672 1,471 119 Saint John 181 217 20 564 312 -45 745 529 -29 St. John's 436 478 10 348 264 -24 784 742 -5 Saskatoon 1,275 1,013 -21 864 492 -43 2,139 1,505 -30 Sherbrooke 450 129 -71 1,332 636 -52 1,782 765 -57 Thunder Bay 157 105 -33 0 168 ## 157 273 74 Toronto 4,066 3,341 -18 7,824 25,788 230 11,890 29,129 145 Trois-Rivières 181 154 -15 1,536 480 -69 1,717 634 -63 Vancouver 2,239 2,596 16 26,808 22,392 -16 29,047 24,988 -14 Victoria 393 299 -24 5,772 1,080 -81 6,165 1,379 -78 Windsor 649 286 -56 684 372 -46 1,333 658 -51 Winnipeg 1,494 1,792 20 1,944 2,832 46 3,438 4,624 34