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Home starts are an important economic indicator. They are a good metric for the state of the overall economy — while also adding new homes to the supply to help ease the national shortage of existing homes for sale.
Table of contents
- Canada home starts
- Home starts across provinces
- Major city home starts
- Historical home starts
- Home start forecast
Canada
Canada saw total home starts of 16,857 in August 2024. Which is a Y/Y decrease of -13.37%. Total home starts the prior year in Canada were 19,459.
On a month-over-month basis Canada saw home starts decrease -25.32% in August 2024 from home starts of 22,572 in July 2024.
The seasonally adjusted annual rate (SAAR) for Canada home starts had decreased substantially from 261,043 home starts in July 2024 to 199,478 in August 2024.
Home starts across provinces
Newfoundland
Newfoundland saw total home starts of 135 in August 2024. Which is a Y/Y increase of 58.82%. Total home starts the prior year in Canada were 85.
On a month-over-month basis Newfoundland saw home starts increase 26.17% in August 2024 from home starts of 107 in July 2024.
PEI
PEI saw total home starts of 51 in August 2024. Which is a Y/Y decrease of -31.08%. Total home starts the prior year in Canada were 74.
On a month-over-month basis PEI saw home starts decrease -74.11% in August 2024 from home starts of 197 in July 2024.
Nova Scotia
Nova Scotia saw total home starts of 302 in August 2024. Which is a Y/Y increase of 24.79%. Total home starts the prior year in Canada were 242.
On a month-over-month basis Nova Scotia saw home starts decrease -42.91% in August 2024 from home starts of 529 in July 2024.
New Brunswick
New Brunswick saw total home starts of 699 in August 2024. Which is a Y/Y increase of 18.07%. Total home starts the prior year in Canada were 592.
On a month-over-month basis New Brunswick saw home starts increase 89.95% in August 2024 from home starts of 368 in July 2024.
Quebec
Quebec saw total home starts of 2,751 in August 2024. Which is a Y/Y decrease of -9.45%. Total home starts the prior year in Canada were 3,038.
On a month-over-month basis Quebec saw home starts decrease -7.22% in August 2024 from home starts of 2,965 in July 2024.
Ontario
Ontario saw total home starts of 5,379 in August 2024. Which is a Y/Y decrease of -25.17%. Total home starts the prior year in Canada were 7,188.
On a month-over-month basis Ontario saw home starts decrease -40.01% in August 2024 from home starts of 8,967 in July 2024.
Manitoba
Manitoba saw total home starts of 604 in August 2024. Which is a Y/Y increase of 14.18%. Total home starts the prior year in Canada were 529.
On a month-over-month basis Manitoba saw home starts decrease -5.63% in August 2024 from home starts of 640 in July 2024.
Saskatchewan
Saskatchewan saw total home starts of 268 in August 2024. Which is a Y/Y decrease of -44.17%. Total home starts the prior year in Canada were 480.
On a month-over-month basis Saskatchewan saw home starts decrease -55.7% in August 2024 from home starts of 605 in July 2024.
Alberta
Alberta saw total home starts of 4,040 in August 2024. Which is a Y/Y increase of 18.03%. Total home starts the prior year in Canada were 3,423.
On a month-over-month basis Alberta saw home starts decrease -7.17% in August 2024 from home starts of 4,352 in July 2024.
British Columbia
British Columbia saw total home starts of 2,628 in August 2024. Which is a Y/Y decrease of -30.99%. Total home starts the prior year in Canada were 3,808.
On a month-over-month basis British Columbia saw home starts decrease -31.6% in August 2024 from home starts of 3,842 in July 2024.
Home starts in Major Cities
Calgary
Calgary saw total home starts of 1,675 in August 2024. Which is a Y/Y decrease of -0.3%. Total home starts the prior year in Canada were 1,680.
On a month-over-month basis Calgary saw home starts decrease -32.21% in August 2024 from home starts of 2,471 in July 2024.
Edmonton
Edmonton saw total home starts of 1,868 in August 2024. Which is a Y/Y increase of 26.99%. Total home starts the prior year in Canada were 1,471.
On a month-over-month basis Edmonton saw home starts increase 16.17% in August 2024 from home starts of 1,608 in July 2024.
Toronto
Toronto saw total home starts of 2,163 in August 2024. Which is a Y/Y decrease of -47.72%. Total home starts the prior year in Canada were 4,137.
On a month-over-month basis Toronto saw home starts decrease -60.84% in August 2024 from home starts of 5,523 in July 2024.
Vancouver
Vancouver saw total home starts of 1,726 in August 2024. Which is a Y/Y decrease of -34.22%. Total home starts the prior year in Canada were 2,624.
On a month-over-month basis Vancouver saw home starts decrease -31.4% in August 2024 from home starts of 2,516 in July 2024.
Ottawa-Gatineau
Ottawa-Gatineau saw total home starts of 745 in August 2024. Which is a Y/Y decrease of -40.16%. Total home starts the prior year in Canada were 1,245.
On a month-over-month basis Ottawa-Gatineau saw home starts decrease -40.87% in August 2024 from home starts of 1,260 in July 2024.
Winnipeg
Winnipeg saw total home starts of 484 in August 2024. Which is a Y/Y increase of 2.76%. Total home starts the prior year in Canada were 471.
On a month-over-month basis Winnipeg saw home starts decrease -12.48% in August 2024 from home starts of 553 in July 2024.
Kitchener-Cambridge-Waterloo
Kitchener-Cambridge-Waterloo saw total home starts of 331 in August 2024. Which is a Y/Y increase of 63.05%. Total home starts the prior year in Canada were 203.
On a month-over-month basis Kitchener-Cambridge-Waterloo saw home starts increase 38.49% in August 2024 from home starts of 239 in July 2024.
Québec
Québec saw total home starts of 430 in August 2024. Which is a Y/Y decrease of -41.97%. Total home starts the prior year in Canada were 741.
On a month-over-month basis Québec saw home starts decrease -31.96% in August 2024 from home starts of 632 in July 2024.
Montréal
Montréal saw total home starts of 1,238 in August 2024. Which is a Y/Y decrease of -4.48%. Total home starts the prior year in Canada were 1,296.
On a month-over-month basis Montréal saw home starts increase 61.41% in August 2024 from home starts of 767 in July 2024.
Oshawa
Oshawa saw total home starts of 293 in August 2024. Which is a Y/Y increase of 275.64%. Total home starts the prior year in Canada were 78.
On a month-over-month basis Oshawa saw home starts increase 312.68% in August 2024 from home starts of 71 in July 2024.
Barrie
Barrie saw total home starts of 173 in August 2024. Which is a Y/Y increase of 49.14%. Total home starts the prior year in Canada were 116.
On a month-over-month basis Barrie saw home starts increase 76.53% in August 2024 from home starts of 98 in July 2024.
London
London saw total home starts of 470 in August 2024. Which is a Y/Y increase of 211.26%. Total home starts the prior year in Canada were 151.
On a month-over-month basis London saw home starts decrease -22.19% in August 2024 from home starts of 604 in July 2024.
Windsor
Windsor saw total home starts of 159 in August 2024. Which is a Y/Y decrease of -1.24%. Total home starts the prior year in Canada were 161.
On a month-over-month basis Windsor saw home starts decrease -14.52% in August 2024 from home starts of 186 in July 2024.
Halifax
Halifax saw total home starts of 204 in August 2024. Which is a Y/Y increase of 80.53%. Total home starts the prior year in Canada were 113.
On a month-over-month basis Halifax saw home starts decrease -37.99% in August 2024 from home starts of 329 in July 2024.
Kingston
Kingston saw total home starts of 102 in August 2024. Which is a Y/Y increase of 88.89%. Total home starts the prior year in Canada were 54.
On a month-over-month basis Kingston saw home starts increase 308% in August 2024 from home starts of 25 in July 2024.
Hamilton
Hamilton saw total home starts of 125 in August 2024. Which is a Y/Y decrease of -44.69%. Total home starts the prior year in Canada were 226.
On a month-over-month basis Hamilton saw home starts decrease -60.32% in August 2024 from home starts of 315 in July 2024.
Thunder Bay
Thunder Bay saw total home starts of 7 in August 2024. Which is a Y/Y decrease of -93.4%. Total home starts the prior year in Canada were 106.
On a month-over-month basis Thunder Bay saw home starts decrease -90.67% in August 2024 from home starts of 75 in July 2024.
Guelph
Guelph saw total home starts of 30 in August 2024. Which is a Y/Y increase of 76.47%. Total home starts the prior year in Canada were 17.
On a month-over-month basis Guelph saw home starts decrease -73.91% in August 2024 from home starts of 115 in July 2024.
Canada housing starts historical data
While current SAAR home starts sit at 199,478 as of August 2024 in Canada — we can look to actual historical home starts in prior years to see how the current years home starts compare. Here are the Canada housing start totals for 2020-2024:
- 2020 Housing Starts: 217,880
- 2021 Housing Starts: 271,198
- 2022 Housing Starts: 261,849
- 2023 Housing Starts: 240,267
Canada housing starts forecast
Housing starts in Canada are forecasted to be 224,485 as a baseline in 2024. A more pessimistic view has home starts forecasted at 215,989 — while a high growth scenario has home starts forecasted at 232,267.
How does the seasonally adjusted annual rate (SAAR) work?
The purpose of the seasonally adjusted annual rate (SARR) is to remove the seasonal variations in data — which allows for performance comparisons throughout the year. CMHC adjusts the housing start data to eliminate seasonal variations, then multiplies it by twelve to calculate the SAAR for housing starts.
source: CMHC