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Housing starts down 7% in 2023 from 2022
Nationally, actual 2023 housing starts were down 7% in centres of 10,000 population and over, with 223,513 units recorded, compared to 240,590 in 2022, according to Canada Mortgage and Housing Corporation (CMHC). This decline is primarily explained by a 25% decline in single-detached starts in 2023. Despite the national decline, actual 2023 housing starts were 5% and 28% higher than in 2022 in Toronto and Vancouver, respectively, driven by higher multi-unit starts. Montreal starts were 37% lower due to large declines in both single-detached and multi-unit starts in 2023. The six-month trend in housing starts was also ... (full story)