Canadian Housing Starts Hold Steady in June

Posted on July 16, 2025

On Wednesday, the Canada Mortgage and Housing Corporation (CMHC) reported that the seasonally adjusted annual rate (SAAR) of housing starts across all areas in Canada was essentially flat in June, edging up 0.4% to 283,734 units.

In urban centers with populations of 10,000 or more, actual housing starts rose 14.0% year-over-year in June, reaching 23,282 units compared to 20,509 in June 2024. Year-to-date, starts totaled 114,411 units—up 4% from the same period last year.

The six-month trend in housing starts (a moving average of the total SAAR) rose 3.6% to 253,081 units.

Other highlights from the report include the following:

  • The monthly SAAR for urban centers (population 10,000 or greater) held steady at 261,705 units in June, compared to 260,947 in May.
  • The rural monthly SAAR was estimated at 22,029 units.
  • Among Canada’s three largest cities, Vancouver recorded a 74% year-over-year increase in housing starts, driven by gains in multi-unit construction. Montreal posted an 8% decline compared to June 2024, due to fewer multi-unit starts. Toronto saw a 40% year-over-year decrease, also led by a decline in multi-unit activity.
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