Canadian real estate continued to trend lower in October

Canadian real estate

Canadian Real Estate – The trend in housing starts was 264,264 units in October, down from 270,661 units in September, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“The six-month trend in housing starts declined from September to October, as the retreat in total starts from their earlier 2021 levels continued,” said Bob Dugan, CMHC’s chief economist. “For SAAR housing starts in Canada’s urban areas, a slight increase in single-detached starts didn’t offset a larger decrease in multi-family starts in October and led to a decline in overall starts for the month. On a trend and monthly SAAR basis, however, the level of housing starts activity in Canada remains high in historical terms. Among Vancouver, Toronto and Montreal, Vancouver was the only market to register growth in total SAAR starts in October, due to a rebound from the prior month in the multi-family segment.”

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of Canada’s housing market. 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.

The standalone monthly SAAR of housing starts for all areas in Canada was 236,554 units in October, a decrease of 5.3% from 249,922 units in September. The SAAR of urban starts decreased by 3.7% in October to 214,797 units. Multiple urban starts decreased by 5.3% to 156,781 units in October, while single-detached urban starts increased by 1% to 58,016 units.

Rural starts were estimated at a seasonally adjusted annual rate of 21,757 units.

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 November data on December 15 at 8:15 AM ET.

As Canada’s authority on housing, 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 Canadian governments, consumers and the housing industry.

For more information, follow us on TwitterYouTubeLinkedInFacebook and Instagram.

Housing Start Data in Centres 10,000 Population and Over 
Single-Detached All OthersTotal
October 
2020
October 
2021
%October 
2020
October 
2021
%October 
2020
October 
2021
%
Provinces (10,000+)
N.-L.49502716129566618
P.E.I.    3531-11158043350111122
N.S.    13135116866426##197777294
N.B.    769221921657916825753
Atlantic291524801806872824711,211157
Qc830771-73,6354,264174,4655,03513
Ont.    2,4061,969-184,8314,689-37,2376,658-8
Man.    222197-11597156-74819353-57
Sask.    138134-361925119922614
Alta.    8481,105301,8121,81402,6602,91910
Prairies1,2081,436192,4702,062-173,6783,498-5
B.C.    57860951,8672,079112,4452,68810
Canada (10,000+)5,3135,309012,98313,781618,29619,0904
Metropolitan Areas
Abbotsford-Mission3123-268644-4911767-43
Barrie52113117264119-55316232-27
Belleville4433-256414-7810847-56
Brantford11914-88155-6713419-86
Calgary31649055666765159821,25528
Edmonton396463171,0741,000-71,4701,4630
Greater Sudbury152887326-814734-28
Guelph266-77998-9212514-89
Halifax7226426735408##107672##
Hamilton5733-4245751-8951484-84
Kelowna3149586429-559578-18
Kingston3530-143622-397152-27
Kitchener-Cambridge-
Waterloo
7856-28173555221251611143
Lethbridge3023-23722214374522
London183155-1510482-21287237-17
Moncton3928-28461331898516189
Montréal300241-201,7952,170212,0952,41115
Oshawa10094-6233270163333649
Ottawa-Gatineau363350-45671,1791089301,52964
  Gatineau9865-348425320118231875
  Ottawa2652858483926927481,21162
Peterborough5210-81250-1007710-87
Québec11076-31669586-12779662-15
Regina19612212424438598
Saguenay212253720-465842-28
St. Catharines-Niagara11464-44224221-1338285-16
Saint John18264408##183489
St. John’s414510715114486025
Saskatoon11064-42325572142119-16
Sherbrooke3737438226-48475263-45
Thunder Bay2011-4540-1002411-54
Toronto714539-252,2872,105-83,0012,644-12
Trois-Rivières1627696464809114
Vancouver26326201,0111,512501,2741,77439
Victoria4970432412671129033716
Windsor8332-6110345-5618677-59
Winnipeg186154-17390137-65576291-49
Total4,1403,993-411,37312,167715,51316,1604
Data based on 2016 Census Definitions.
Source:  Market Analysis Centre, CMHC
## not calculable / extreme value
Housing Start Data – Seasonally Adjusted at Annual Rates (SAAR)
Single-Detached All OthersTotal
September 
2021
October 
2021
%September 
2021
October 
2021
%September 
2021
October 
2021
%
Provinces (10,000+)
N.L.473465-2152191266256565
P.E.I.    270279384960##3541,239250
N.S.    2,3744,073721,5095,1552423,8839,228138
N.B.    992953-41,1211,965752,1132,91838
Qc   6,9407,536946,49544,078-553,43551,614-3
Ont.    22,50221,025-768,52054,795-2091,02275,820-17
Man.    2,3602,41126,2641,872-708,6244,283-50
Sask.    1,0841,251155,3521,104-796,4362,355-63
Alta.    12,57512,565012,38321,6347524,95834,19937
B.C.    7,9007,458-623,62725,027631,52732,4853
Canada (10,000+)57,47058,0161165,507156,781-5222,977214,797-4
Canada (All Areas)76,22573,374-4173,700163,180-6249,922236,554-5
Metropolitan Areas
Abbotsford-Mission343293-151,128528-531,471821-44
Barrie1,0581,211141,3081,42892,3662,63912
Belleville289353228416810037352140
Brantford11213319060##11219372
Calgary5,1665,991166,5049,1804111,67015,17130
Edmonton5,5095,422-25,19612,00013110,70517,42263
Greater Sudbury167216291,86072-962,027288-86
Guelph197115-42096##1972117
Halifax1,5822,803771,2124,8963042,7947,699176
Hamilton432395-9516612199481,0076
Kelowna925781-161,536348-772,4611,129-54
Kingston2524146472264267324678109
Kitchener-Cambridge-
Waterloo
678579-152,0166,6602302,6947,239169
Lethbridge1832423210826414429150674
London2,1141,908-102,856984-664,9702,892-42
Moncton312297-53241,5963936361,893198
Montréal2,5182,542131,58225,638-1934,10028,180-17
Oshawa1,1631,053-91,9923,240633,1554,29336
Ottawa-Gatineau3,7413,512-611,97614,1481815,71717,66012
  Gatineau563650156,2883,036-526,8513,686-46
  Ottawa3,1782,862-105,68811,112958,86613,97458
Peterborough290113-6100290113-61
Québec774888158,3407,032-169,1147,920-13
Regina37858856612288-53990876-12
Saguenay542443521922402524648497
St. Catharines-Niagara2,007580-711,9442,652363,9513,232-18
Saint John285308857696-83861404-53
St. John’s4214211201805054160111
Saskatoon675640-54,704660-865,3791,300-76
Sherbrooke337393172,7242,71203,0613,1051
Thunder Bay9159-35009159-35
Toronto5,9196,331749,41625,260-4955,33531,591-43
Trois-Rivières259326261,440768-471,6991,094-36
Vancouver3,0953,083011,10018,1446314,19521,22750
Victoria70576994,2723,204-254,9773,973-20
Windsor3513513845404173589121
Winnipeg1,9732,06455,9881,644-737,9613,708-53
Data based on 2016 Census Definitions.
Source:  Market Analysis Centre, CMHC
## not calculable / extreme value

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