Canada’s homebuilding pace falls further behind 2025 levels
The national housing agency doesn’t see any sign of a rapid surge for construction activity anytime soon, either.
“While the current pace of starts is elevated compared to recent years, we expect the downward trend to continue as construction activity moderates in the coming months, especially towards the end of the year,” CMHC deputy chief economist Kevin Hughes said in a statement.
Montreal and Vancouver both saw their six-month trends increase by 6%. In Montreal, that was spurred by higher starts of all home types, while multi-unit starts boosted the uptick in Vancouver.
Toronto saw single-detached and multi-unit starts remain unchanged, highlighting the hurdles facing builders in the city as a sluggish housing market fails to gather pace.
Experts including Canadian Home Builders’ Association (CHBA) chief executive officer Kevin Lee have sounded the alarm on a bleak outlook for homebuilders across the country, with geopolitical turmoil and the eruption of a US-Canada trade war darkening that picture.
