Annual pace of housing starts rises 3% in September

Annual pace of housing starts, September

248,896 units

The seasonally adjusted annual rate of housing starts reached 248,896 units in September, up from 242,223 in August, according to Canada Mortgage and Housing Corp. (CMHC).

Actual starts in communities of 10,000 people or more fell 11 per cent from a year earlier, to 19,984 units in September.

Why it matters

CMHC deputy chief economist Aled ab Iorwerth says Canada still faces a long-term housing supply gap. Unless construction increases, affordability gains since 2023 will be hard to sustain, he says.