Housing starts are up in Canada’s largest cities.
According to the Canada Mortgage and Housing Corporation, the numbers rose by four percent in the first half of this year.
That’s compared to the same time period in 2023.
The level of new construction starts was over 68,000, the second strongest since 1990.
However, the CMHC says it’s still not enough to meet growing demand.
Calgary and Edmonton led the way in new home construction due to record migration, while Toronto, Vancouver and Ottawa saw a decrease.
For the full report, click here.
In the first half of 2024, new home #construction in the 6 largest Canadian cities rose 4% compared to the same time in 2023. Despite recording one of the strongest first halves of the year on record, it wasn’t enough to meet demand.
Let’s dive into the Housing Supply Report
— CMHC (@CMHC_ca) September 26, 2024
