Kanada Baubeginne

Housing starts in Canada rose 3.7% in July 2025 to 294,085 units, up from 283,523 in June and well above expectations of 265,000. In urban centers with populations over 10,000, starts increased 4% year-over-year, totaling 23,464 units. Montréal led with a 212% surge, driven by multi-unit projects, while Vancouver posted a 24% gain. In contrast, Toronto recorded a 69% drop due to declines in both multi-unit and single-detached starts. Rural starts were estimated at an annualized 20,467 units. The total seasonally adjusted annual rate (SAAR) of housing starts across Canada was up 4% in July, at 294,085 units compared to 283,523 units in June.