Housing starts down 7% in 2023 from 2022

Ottawa, January 16, 2024

Nationally, actual 2023 housing starts were down 7% in centres of 10,000 population and over, with 223,513 units recorded, compared to 240,590 in 2022, according to Canada Mortgage and Housing Corporation (CMHC). This decline is primarily explained by a 25% decline in single-detached starts in 2023.

Despite the national decline, actual 2023 housing starts were 5% and 28% higher than in 2022 in Toronto and Vancouver, respectively, driven by higher multi-unit starts. Montreal starts were 37% lower due to large declines in both single-detached and multi-unit starts in 2023.

The six-month trend in housing starts was also lower in December at 249,898 units, down 2.1% from 255,198 units in November. The trend measure is a six-month moving average of the monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.

The monthly SAAR of total housing starts for all areas in Canada increased 18% in December (249,255 units) compared to November (210,918 units).

Quote:

“Following record and near-record highs in 2021 and 2022, housing starts dipped in 2023, but still significantly outperformed expectations for the year. The decline was driven mainly by a sharp drop-off in single-detached starts and tighter economic conditions affecting multi-unit starts in the year’s final quarter. The recent monthly multi-unit volatility is not surprising as we’re now starting to see 2023’s challenging borrowing conditions and labour shortages in the housing starts numbers and we expect to see continued downward pressure in the coming months,” said Bob Dugan, CMHC’s Chief Economist.

Key facts:

  • The monthly SAAR of total urban (centres 10,000 population and over) housing starts increased 20%, with 234,705 units recorded. Multi-unit urban starts increased 26% to 191,463 units, while single-detached urban starts decreased 2% to 43,242 units.
  • The rural starts monthly SAAR estimate was 14,550 units.
  • Total SAAR housing starts were down 35% in Toronto, driven by a significant decline in multi-unit starts. Montreal and Vancouver both posted gains of 66% and 92%, respectively, due to sizeable increases 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 eleventh business day each month. We will release the January housing starts data on February 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 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.

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.

CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to all levels of governments, consumers and the housing industry.

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Additional information:

For information on this release:

To request an interview with a CMHC economist, contact:

Media Relations, CMHC
media@cmhc-schl.gc.ca

December housing starts in Canada — all areas

Housing Start Data in Centres 10,000 Population and Over (Provinces)
  Single-Detached All Others Total
Dec. 2022 Dec. 2023 % Dec. 2022 Dec. 2023 % Dec. 2022 Dec. 2023 %
N.-L. 64 48 -25 89 22 -75 153 70 -54
P.E.I. 23 13 -43 35 24 -31 58 37 -36
N.S. 123 148 20 272 468 72 395 616 56
N.B. 47 86 83 89 281 216 136 367 170
Atlantic 257 295 15 485 795 64 742 1,090 47
Qc 254 223 -12 1,757 2,503 42 2,011 2,726 36
Ont. 1,427 1,053 -26 6,927 4,328 -38 8,354 5,381 -36
Man. 107 130 21 321 370 15 428 500 17
Sask. 61 84 38 181 367 103 242 451 86
Alta. 856 1,189 39 1,263 2,302 82 2,119 3,491 65
Prairies 1,024 1,403 37 1,765 3,039 72 2,789 4,442 59
B.C. 511 350 -32 3,939 4,604 17 4,450 4,954 11
Canada (10,000+) 3,473 3,324 -4 14,873 15,269 3 18,346 18,593 1

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 in Centres 10,000 Population and Over (Metropolitan Areas)
  Single-Detached All Others Total
Dec. 2022 Dec. 2023 % Dec. 2022 Dec. 2023 % Dec. 2022 Dec. 2023 %
Abbotsford – Mission 21 5 -76 113 11 -90 134 16 -88
Barrie 27 84 211 71 17 -76 98 101 3
Belleville – Quinte West 13 18 38 5 4 -20 18 22 22
Brantford 65 42 -35 33 54 64 98 96 -2
Calgary 410 538 31 670 955 43 1,080 1,493 38
Chilliwack 19 10 -47 10 70 ## 29 80 176
Drummondville 13 20 54 34 60 76 47 80 70
Edmonton 310 513 65 464 1,244 168 774 1,757 127
Fredericton 8 29 263 30 2 -93 38 31 -18
Greater / Grand Sudbury 19 1 -95 19 2 -89 38 3 -92
Guelph 3 6 100 13 136 ## 16 142 ##
Halifax 56 94 68 196 385 96 252 479 90
Hamilton 60 28 -53 83 606 ## 143 634 343
Kamloops 2 3 50 64 155 142 66 158 139
Kelowna 54 52 -4 337 329 -2 391 381 -3
Kingston 3 38 ## 0 8 ## 3 46 ##
Kitchener – Cambridge – Waterloo 39 47 21 630 1,460 132 669 1,507 125
Lethbridge 15 20 33 39 7 -82 54 27 -50
London 66 32 -52 140 40 -71 206 72 -65
Moncton 16 26 63 41 216 427 57 242 325
Montréal 62 39 -37 914 1,690 85 976 1,729 77
Nanaimo 15 5 -67 106 13 -88 121 18 -85
Oshawa 25 22 -12 44 19 -57 69 41 -41
Ottawa – Gatineau 116 130 12 201 690 243 317 820 159
Gatineau 1 14 ## 0 6 ## 1 20 ##
Ottawa 115 116 1 201 684 240 316 800 153
Peterborough 11 29 164 0 32 ## 11 61 455
Québec 45 21 -53 303 80 -74 348 101 -71
Red Deer 0 9 ## 16 0 -100 16 9 -44
Regina 14 20 43 33 184 458 47 204 334
Saguenay 2 12 ## 2 200 ## 4 212 ##
St. Catharines – Niagara 92 39 -58 141 31 -78 233 70 -70
Saint John 15 22 47 0 44 ## 15 66 340
St. John's 61 39 -36 88 20 -77 149 59 -60
Saskatoon 41 58 41 129 163 26 170 221 30
Sherbrooke 19 13 -32 86 98 14 105 111 6
Thunder Bay 4 5 25 0 4 ## 4 9 125
Toronto 565 329 -42 5,287 1,107 -79 5,852 1,436 -75
Trois-Rivières 10 4 -60 115 17 -85 125 21 -83
Vancouver 256 154 -40 2,869 3,208 12 3,125 3,362 8
Victoria 40 27 -33 230 617 168 270 644 139
Windsor 38 15 -61 17 12 -29 55 27 -51
Winnipeg 88 104 18 269 305 13 357 409 15
Total 2,738 2,702 -1 13,842 14,295 3 16,580 16,997 3

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) (Provinces — 10,000+)
  Single-Detached  All Others Total
Nov. 2023 Dec. 2023 % Nov. 2023 Dec. 2023 % Nov. 2023 Dec. 2023 %
N.L. 471 504 7 392 256 -35 863 760 -12
P.E.I. 93 168 81 360 288 -20 453 456 1
N.S. 1,445 1,608 11 10,821 5,599 -48 12,266 7,207 -41
N.B. 767 908 18 4,402 3,351 -24 5,169 4,259 -18
Qc 4,171 3,819 -8 20,686 35,841 73 24,857 39,660 60
Ont. 13,843 13,738 -1 47,331 54,113 14 61,174 67,851 11
Man. 1,823 1,696 -7 5,496 4,440 -19 7,319 6,136 -16
Sask. 1,402 1,107 -21 3,936 4,404 12 5,338 5,511 3
Alta. 15,042 15,135 1 25,841 27,842 8 40,883 42,977 5
B.C. 4,976 4,559 -8 32,286 55,329 71 37,262 59,888 61
Canada (10,000+) 44,033 43,242 -2 151,551 191,463 26 195,584 234,705 20
Canada (All Areas) 53,987 52,426 -3 156,930 196,830 25 210,918 249,255 18

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) (Metropolitan Areas)
  Single-Detached All Others Total
Nov. 2023 Dec. 2023 % Nov. 2023 Dec. 2023 % Nov. 2023 Dec. 2023 %
Abbotsford – Mission 194 68 -65 4,488 132 -97 4,682 200 -96
Barrie 571 1,015 78 1,668 204 -88 2,239 1,219 -46
Belleville – Quinte West 342 253 -26 1,320 48 -96 1,662 301 -82
Brantford 341 592 74 864 648 -25 1,205 1,240 3
Calgary 7,043 6,634 -6 14,568 11,460 -21 21,611 18,094 -16
Chilliwack 227 144 -37 227 840 270 1,307 984 -25
Drummondville 122 284 133 1,092 720 -34 1,214 1,004 -17
Edmonton 6,384 7,125 12 10,068 14,928 48 16,452 22,053 34
Fredericton 253 299 18 888 24 -97 1,141 323 -72
Greater / Grand Sudbury 20 24 20 24 24 - 44 48 9
Guelph 93 122 31 96 1,632 ## 189 1,754 ##
Halifax 686 913 33 9,624 4,620 -52 10,310 5,533 -46
Hamilton 248 359 45 828 7,272 ## 1,076 7,631 ##
Kamloops 22 51 132 12 1,860 ## 34 1,911 ##
Kelowna 367 447 22 240 3,948 ## 607 4,395 ##
Kingston 164 387 136 0 96 ## 164 483 195
Kitchener – Cambridge – Waterloo 880 704 -20 3,888 17,520 351 4,768 18,224 282
Lethbridge 199 232 17 0 84 ## 199 316 59
London 633 385 -39 1,392 480 -66 2,025 865 -57
Moncton 208 385 85 3,084 2,592 -16 3,292 2,977 -10
Montréal 998 832 -17 11,764 20,392 73 12,762 21,224 66
Nanaimo 613 78 -87 300 156 -48 913 234 -74
Oshawa 25 568 ## 4,932 228 -95 4,957 796 -84
Ottawa – Gatineau 1,357 1,950 44 8,760 8,280 -5 10,117 10,230 1
Gatineau 29 248 ## 324 72 -78 353 320 -9
Ottawa 1,328 1,702 28 8,436 8,208 -3 9,764 9,910 1
Peterborough 424 402 -5 192 384 100 616 786 28
Québec 479 402 -16 2,688 960 -64 3,167 1,362 -57
Red Deer 109 79 -28 0 0 - 109 79 -28
Regina 275 251 -9 1,380 2,208 60 1,655 2,459 49
Saguenay 98 171 74 384 2,400 ## 482 2,571 433
St. Catharines – Niagara 848 562 -34 1,080 372 -66 1,928 934 -52
Saint John 172 229 33 60 528 ## 232 757 226
St. John's 348 364 5 288 240 -17 636 604 -5
Saskatoon 1,058 834 -21 2,280 1,956 -14 3,338 2,790 -16
Sherbrooke 285 191 -33 972 1,176 21 1,257 1,367 9
Thunder Bay 36 89 147 168 48 -71 204 137 -33
Toronto 4,281 4,335 1 22,620 13,284 -41 26,901 17,619 -35
Trois-Rivières 194 102 -47 888 204 -77 1,082 306 -72
Vancouver 2,338 2,100 -10 18,792 38,496 105 21,130 40,596 92
Victoria 372 346 -7 5,220 7,404 42 5,592 7,750 39
Windsor 289 221 -24 756 144 -81 1,045 365 -65
Winnipeg 1,494 1,390 -7 5,340 3,660 -31 6,834 5,050 -26

Data for 2022 based on 2016 Census Definitions and data for 2023 based on 2021 Census Definitions.
Source: CMHC
## not calculable / extreme value

Date Published: January 16, 2024