Canadian housing starts drop 13% in December

Posted on January 20, 2025   |  

Housing starts in Canada fell 13% in December, from 267,140 units in November to 231,468 units.

In areas with populations over 10,000, builders started 16,531 homes in December, bringing the total for 2024 to 227,697, a 2% increase from 223,513 in December 2023.

The six-month trend in housing starts was nearly the same in December at 242,637 units, with a small drop of 0.7%.

In 2024, housing starts rose by 2% in areas with more than 10,000 people, reaching 227,697 units, up from 223,513 in 2023.

Including 17,423 starts in rural areas, the total for all areas in 2024 reached 245,120, a 2% increase from 2023.

The six largest cities saw a 3% decrease in housing starts compared to 2023, mainly due to fewer starts in Vancouver, Toronto, and Ottawa.

The drop in these cities came from fewer multi-unit buildings being started, as pre-construction condo sales were weak.