Canada Mises en chantier

Housing starts in Canada rose 3.6% in June 2025 to 253,081 units, down from 282,705 units in May and below market expectations of 259,000. In urban centers with populations of 10,000 or more, actual housing starts rose 14% year-over-year, reaching 23,282 units in June 2025 compared to 20,509 a year earlier. Montréal saw an 8% decline from June 2024, driven by fewer multi-unit starts. Vancouver recorded a 74% increase due to a surge in multi-unit activity, while Toronto experienced a 40% drop, also linked to lower multi-unit starts. The total seasonally adjusted annual rate (SAAR) of housing starts across Canada was nearly flat at 283,734 units in June, up slightly from 282,705 in May. In urban centers, the SAAR was 261,705 units, little changed from 260,947 in May. Rural housing starts were estimated at a SAAR of 22,029 units.