We’re seeing a slight cooling in Canada’s housing starts as the six-month trend dipped by about 1% in mid-Q3, landing near 244,000 annualized units. Meanwhile, the monthly annualized rate held steady at approximately 229,000. In major Canadian centres, actual starts reached 17,700 in mid-Q3, marking a 2% decrease compared to the same period last year. Over the first eight months of this year, that brings us to 149,500 starts—a 4% drop year-over-year. Despite these shifts, the number of homes under construction in cities with populations over 50,000 remains high, just under 372,000 units, reflecting a robust pipeline even as things moderate. It’s worth noting that completions fell more sharply, down 11% month-over-month to 17,600 units, while permits for future builds edged up slightly to 142,400. The national outlook suggests that, while we’re still above the levels of recent years, we can expect this downward trend to continue as the pace of new construction adjusts toward the end of the year. For clients in Laval and surrounding areas, staying informed on these market shifts is key to making strategic decisions, whether you’re buying, selling, or investing.
Leave a Reply