Housing Starts Explained
A housing start is counted when construction begins, usually when the concrete for the whole footing has been poured. Each dwelling unit counts as one start.
Housing starts (SAAR)
248,896units, annualized
−11.3% vs 12 months earlier
Sep 2026 · CMHC
Seasonally adjusted annual rate, not an actual monthly count.
| Metro | Value |
|---|---|
| Montréal Que. | 27,474 units |
| Vancouver B.C. | 26,601 units |
| Calgary Alta. | 24,403 units |
| Toronto Ont. | 23,355 units |
| Edmonton Alta. | 19,055 units |
| Ottawa–Gatineau Ont. | 14,228 units |
| Québec City Que. | 9,293 units |
| Winnipeg Man. | 6,920 units |
| Halifax N.S. | 5,107 units |
| Victoria B.C. | 4,060 units |
SAAR vs actual counts
The SAAR (seasonally adjusted annual rate) shows the yearly pace implied by one month's starts after removing seasonal patterns. Metro pages here use actual 12-month totals, which are easier to compare between cities.
Starts, completions and under construction
Starts lead completions by months or years depending on building type; apartments take longest. Toronto completions in the last 12 months: 26,691 units (Sep 2026).
| Metro | Value |
|---|---|
| Vancouver B.C. | 27,830 units |
| Toronto Ont. | 26,691 units |
| Montréal Que. | 24,609 units |
| Calgary Alta. | 23,827 units |
| Edmonton Alta. | 18,245 units |
| Ottawa–Gatineau Ont. | 13,319 units |
| Québec City Que. | 6,607 units |
| Winnipeg Man. | 5,392 units |
| Kitchener–Cambridge–Waterloo Ont. | 4,545 units |
| Kelowna B.C. | 4,187 units |
Sources
Informational only, not financial advice. Data as of the release snapshot generated 2026-11-12.