Canada’s housing construction momentum is cooling, with the Canada Mortgage and Housing Corporation (CMHC) reporting that the seasonally adjusted annual rate of housing starts slipped to 229,046 units in August, down marginally from 229,360 in July.
The slowdown carries particular significance for Greater Toronto Area readers, as Ontario accounted for much of the national decline. While Quebec and Alberta posted modest gains, they couldn’t offset weakness across other provinces, most notably Ontario.
Key findings from the August report:
- Monthly housing starts in centres with populations over 10,000 fell to 17,691 units, down from 18,112 a year prior
- Rural housing starts held steady at an estimated 11,224 units annually
- The six-month moving average declined 1.3% from July to 244,149 units
CMHC Deputy Chief Economist Kevin Hughes noted that housing starts “continued to trend slightly down in August,” signaling ongoing softness in the residential construction sector across Canada.
For GTA residents and investors, this slowdown underscores tightening housing supply conditions and may have implications for future rental and resale markets. Read the full analysis on thestar.com for detailed market context.
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