The trend in housing starts was higher in October at 256,280 units, up 1% from 253,957 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend measure is a six-month moving average of the monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.

The monthly SAAR of total housing starts for all areas in Canada also increased 1% in October (274,681 units) compared to September (270,669 units).

The monthly SAAR of total urban (centres 10,000 population and over) housing starts increased 2%, with 257,357 units recorded. Multi-unit urban starts increased 1% to 209,887 units, while single-detached urban starts increased 9% to 47,470 units.

Total SAAR housing starts were down 43% in Montreal and 24% in Toronto, while Vancouver recorded an increase of 35%, driven by a 40% increase in multi-unit starts.

The rural starts monthly SAAR estimate was 17,324 units.

• Actual 2023 year-to-date housing starts were 22% and 37% higher than the same period in 2022 in Toronto and Vancouver, respectively, driven by higher multi-unit starts.
• Nationally, actual year-to-date housing starts were down 7% in centres of 10,000 population and over, due to lower single-detached starts.

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