FX.co ★ Canada Housing Starts Remain Low

Canadian housing starts were broadly unchanged in August 2026, coming in at a seasonally adjusted annual rate of 229,000 units—the lowest level since March 2025 and below market expectations of 240,000 units. Rural starts were estimated at a seasonally adjusted annual rate of 11,224 units. In urban centres with populations of 10,000 or more, actual monthly housing starts declined 2% year-over-year, totaling 17,691 units in August 2026.

Regionally, Montréal’s six-month trend in housing starts increased 6% from the previous month, supported by gains across all housing types. Vancouver also posted a 6% rise in its trend, driven by stronger multi-unit activity. In Toronto, the trend remained unchanged, with both single-detached and multi-unit starts essentially flat.