Toronto Housing Starts: August 2024

Toronto home start breakdown | August 2024

• Toronto home starts were 2,163 in August — a 47.27% Y/Y decrease
• Toronto year-to-date home starts are 30,214 — a 13.93% Y/Y decrease

Home starts in Canada were 16,857 in August 2024 which is a decrease of 13.37% over home starts of 19,459 the prior year. However, with the high prices of homes in Toronto many want to know about the pipeline of supply coming to one of Canada's most expensive metros.

Table of contents

• Toronto home starts
• Home starts by property type
• Historical home starts

Toronto home starts

Total Toronto home starts in August 2024 were 2,163 — which is a 47.72% decrease from 4,137 home starts the prior year. For the month of August these 2,163 home starts in Toronto made up 12.83% of Canada's total home starts for the month of August.

Here is a breakdown of home starts by intendeded market:

• 1,076 - Homeowner
• 188 - Rental
• 899 - Condo

Home starts in Toronto from January to August 2024 are 30,214. While year-to-date home starts are lower than the previous years period which saw starts of 35,105 from January to August 2023 — the decrease on a year-to-date basis is less than the month of August with a decrease of 13.93% on a year-to-date basis.

Home starts in Toronto by property type

Here are how the 2,163 home starts in Toronto were broken down by property type in August 2024 vs. August 2023:

These are the year-to-date home starts in Toronto from January to August for 2024 vs. 2023:

Historical Home Starts

These are all of the annual actual home starts in Toronto starting with 1990 to the last full year — with the highest home starts happening in 2012 with total starts of 48,105 — and not far behind 2023 with total starts of 47,428.

source: CMHC