FX.co ★ Canada Housing Starts Edge Down

In May 2025, housing starts in Canada saw a slight decline of 0.2%, totaling 279,510 units, down from 280,181 units in April, but surpassing market predictions, which anticipated 248,000 units. Urban housing construction in areas with populations of 10,000 or more remained relatively stable, with 259,800 units compared to 259,916 units in the previous month. Conversely, rural housing starts experienced a notable increase, rising 4.5% to 19,706 units from 18,818 units in March. Annually, actual housing starts in areas with populations exceeding 10,000 rose by 9%, reaching 23,745 units in May 2025, an increase from 21,814 units in May 2024. Among Canada's three major cities, Vancouver experienced a 10% annual decrease, while Toronto saw a 22% drop, both attributed to declines in multi-unit construction starts. On the other hand, Montreal experienced an 11% rise, supported by an upswing in multi-unit construction activity.