Average of new homes being built across Canada steadily increases while Ontario lags behind [Video]

While the number of new homes that broke ground in Canada peaked last month, Ontario continues to see an overall decrease in construction. 

A report by the Canada Housing and Mortgage Corporation (CMHC) highlighted that the seasonally adjusted annual rate (SAAR) for total housing starts (the number of homes that have begun construction) saw a boost over the last few months.

In September of this year, the current national housing start average was hovering around 223,391, while numbers from last month showed 240,761 units, highlighting an eight per cent increase. 

In major urban centres with a population of 10,000 or greater, 188,567 housing starts were logged from January to October 2024. 

However, compared to 2023’s 187,722, which was quantified over the same period,  the difference is marginal, while 2023 and 2024 had new housing projects reach almost 200,000, this year only saw an increase of 845 compared to last. 

As …