Montreal, Edmonton, Calgary Lead the Country With Housing Starts

While most municipalities have experienced a drop in housing starts, Montreal, Edmonton, and Calgary have been booming, according to a Canada Mortgage and Housing Corporation (CMHC) report. Housing start statistics for June, which were released on July 16, show that in cities with over 10,000 people, new home construction dropped 13 percent in June, compared to 2023. CMHC says this was largely due to lower multi-unit starts, which were down 16 percent year-over-year. Toronto saw a 60 percent decline in housing starts from June 2023, while Vancouver had a 55 percent drop in the same period. However, Montreal saw a 226 percent increase, which CMHC attributed to higher multi-unit activity. That city has experienced a 63 percent increase in apartment building construction since the eight-year record low in 2023....