The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in December 2024 was 231,468 units, 13.4% lower than November. The SAAR of urban starts in December shrunk 13.6% from the previous month at 214,000. Multiple urban starts dropped 14.7% to 168,515, and single-family levels were 45,485, falling 9.5% compared to November. The six-month trend in housing starts dipped 0.7% to 242,637 units in December. Total housing starts in 2024 reached 227,697, up 1.9% compared to 2023.
The Canada Mortgage and Housing Corporation (CMHC) uses the six-month trend measure “as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of Canada’s housing market.” See CHMC