This table contains data described by the following dimensions (Not all combinations are available): Geography (11 items: Canada; Prince Edward Island; Nova Scotia; Newfoundland and Labrador ...), Housing estimates (3 items: Housing starts; Housing under construction; Housing completions ...), Type of unit (6 items: Total units; Semi-detached; Single-detached; Multiples ...).

In 2024, there were more new home construction starts in Canada than in the previous year. Construction starts peaked in 2021, when there were ******* housing units whose construction started that year. Despite the restrictions imposed in Canada during the COVID-19 pandemic, the industry managed to continue operating, with increases in the number of housing starts in 2020 and 2021. How many homes are under development? In 2023, the number of housing units that were under construction in Canada was approximately ******** units. After a period of stagnation until 2016, the housing industry witnessed a significant surge in construction activity. Numerous factors are attributed to this rise, including the heightened demand for housing, an expanding economy that encouraged investment, and the response to the shortage of housing. How expensive are homes in Canada? In 2024, the average cost of a house in Canada was around ******* Canadian dollars. The average house price had increased that year by ****** Canadian dollars compared in 2024 compared to the previous year. The house price-to-income ratio in Canada increased slightly in the third quarter of 2024.

This table contains 213 series, with data for years 1948 - 2015 (not all combinations necessarily have data for all years), and was last released on 2015-10-23. This table contains data described by the following dimensions (Not all combinations are available): Geography (13 items: Canada; Newfoundland and Labrador; Prince Edward Island; Atlantic provinces ...), Housing estimates (3 items: Housing starts; Housing under construction; Housing completions ...), Type of unit (6 items: Total units; Multiples; Single-detached; Semi-detached ...), Seasonal adjustment (2 items: Unadjusted; Seasonally adjusted at annual rates ...).

Housing Starts in Canada increased to 294.10 Thousand units in July from 283.50 Thousand units in June of 2025. This dataset provides the latest reported value for - Canada Housing Starts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Work Started: Construction: Dwellings and Residential Buildings: Total for Canada (WSCNDW01CAQ657S) from Q1 1960 to Q3 2023 about housing starts, Canada, buildings, residential, construction, and housing.

New home construction in the Canadian province of Ontario amounted to roughly ****** units in 2024. Those figures were much higher than the number of construction starts in Quebec. On a year-to-year basis, construction in both provinces had been increasing steadily between 2015 and 2021, but housing starts fell after that.

The Canadian residential construction market exhibits robust growth potential, driven by a consistently increasing population, urbanization trends, and government initiatives promoting affordable housing. The market, valued at approximately $100 billion CAD in 2025 (estimated based on provided CAGR and market size information), is projected to experience a Compound Annual Growth Rate (CAGR) exceeding 5% through 2033. This expansion is fueled by strong demand in major cities like Toronto, Vancouver, Calgary, and Montreal, where population density and economic activity are high. While rising material costs and labor shortages pose challenges, innovative construction techniques and technological advancements are mitigating these restraints to some extent. The market segmentation reveals a significant share for multi-family dwellings, reflecting the increasing preference for apartments and condos in urban centers. The leading players, including PCL Construction, EllisDon, and others, are strategically positioning themselves to capitalize on this growth, focusing on sustainable and efficient building practices. The forecast indicates continued expansion across diverse segments. Single-family home construction, while vital, will likely witness more moderate growth compared to the multi-family segment. Regional variations will persist, with larger metropolitan areas experiencing faster growth than smaller cities and rural areas. Government policies influencing mortgage rates, building permits, and environmental regulations will play a critical role in shaping market trajectories. The continued focus on sustainable construction, energy efficiency, and smart home technologies will further drive innovation and attract investment in the sector. However, sustained economic growth and stable interest rates are crucial to maintain this positive momentum. Ongoing monitoring of inflation and material prices will be vital for accurate forecasting. Recent developments include: September 2022: PCL Construction was awarded Kindred Resort - Keystone's first major development in River Run in 20 years. This USD 184 million, 321,000 square-foot mixed-use development, designed by OZ Architecture, will consist of 95 luxury ski-in/ski-out condominiums and a 107-key full-service hotel, all just steps away from the River Run Gondola at Keystone Ski Resort. The development also includes 25,000 square feet of commercial space for restaurants, retail, and amenities including a pool, spa, fitness center, ski club, and event space. Preliminary construction activities are underway to relocate utilities. Construction will continue year-round and is scheduled for completion in June 2025., January 2023: PCL Construction broke ground on Schnitzer West Living's luxury residential community, the Avant, in the Denver Tech Center. The Avant is situated on the corner of Greenwood Plaza Boulevard and East Caley Avenue. The property includes 337 highly curated for-rent residences, complete with modern amenities and a two-level indoor structured parking garage with a capacity for roughly 450 cars. Residents will enjoy commanding views of the surrounding mountains year-round from their homes and the property's outdoor pool and hot tub. The property is Schnitzer West's first multifamily residential building, bringing luxurious living experiences to Denver's Tech Center.. Notable trends are: Drop in Building Permits Due to High Interest Rates.

The Canada Residential Construction Market Report is Segmented by Type (Apartment & Condominiums, and Villas & Landed Houses), by Construction Type (New Construction and Renovation), by Construction Method (Conventional On-Site, and More), by Investment Source (Public and Private), and by Geography (Toronto, Vancouver, Montreal, Calgary and the Rest of Canada). The Market Forecasts are Provided in Terms of Value (USD).

The value of new residential buildings put in place in Canada decreased in 2023. However, residential construction rose again in 2024, amounting to ***** billion Canadian dollars. In 2020, residential construction spending was valued at just over *** billion Canadian dollars.

This table contains data described by the following dimensions (Not all combinations are available): Geography (22 items: Prince Edward Island; Canada; Newfoundland and Labrador; Atlantic provinces ...), Housing estimates (3 items: Housing starts; Housing completions; Housing under construction ...), Type of unit (6 items: Total units; Semi-detached units; Row units; Single-detached units ...).

This table contains data described by the following dimensions (Not all combinations are available): Geography (53 items: Large urban areas; Barrie; Ontario; Belleville; Ontario; Brantford; Ontario ...), Housing estimates (3 items: Housing starts; Housing under construction; Housing completions ...), Type of unit (5 items: Total units; Semi-detached units; Row units; Single-detached units ...).

This table contains data described by the following dimensions (Not all combinations are available): Geography (37 items: Edmonton; Alberta; Census metropolitan areas; Saguenay; Quebec; Calgary; Alberta ...), Housing estimates (3 items: Housing starts; Housing completions; Housing under construction ...), Type of unit (5 items: Total units; Semi-detached units; Row units; Single-detached units ...).

This table contains data described by the following dimensions (Not all combinations are available): Geography (13 items: Canada; Atlantic provinces; Newfoundland and Labrador; Prince Edward Island ...), Housing estimates (3 items: Housing starts; Housing under construction; Housing completions ...), Type of unit (3 items: Total units; Total - row; apartment and other; Single-detached ...).

In 2022, there were approximately 378,040 housing units under construction in Canada. During most of the period considered, the number of homes under construction generally increased, as there were less than 156,420 homes under construction in 2009.

Development of residential construction in Canada The number of housing starts overall has developed similarly, but it was somewhat more volatile. Generally, the cities with the largest populations, like Toronto and Montreal experience the highest number of construction starts. The construction industry remains vital to Canada’s economy, providing employment to people across the country and billions in economic output. Types of housing Although many Canadians were living in single-detached houses, over half of real estate units in the country being single-detached homes in 2021, the number of multifamily starts has been increasing considerably in the past years.

Construction of housing units in urban centres with a population of 10,000 and over. A housing unit is considered "started" when basement foundation construction begins.

Investment into residential housing construction has benefitted apartment and condominium construction activity in Canada in recent years. Immigration into Canada spurred record population growth during the period, deepening the housing crisis. In major urban centres, demand for housing units has exceeded the supply for years, inciting investment in retrofits and multistory apartment dwellings. Apartment contractors have been vital in filling the gaps in housing, with a low-interest environment and chronically low vacancy rates enticing investors at the beginning of the current period. The low housing supply and abundant demand kept investors bullish on apartments through the uncertainty of the pandemic, supporting growth. Still, the pandemic's disruption to global supply chains affected contractors when equipment and material costs reached unprecedented highs. Particularly through 2021 and 2022, materials price and wage inflation pushed up contractors’ rates, contributing to industry revenue growth. While subsequent years have seen slower building construction price inflation, high demand has kept price levels from falling. In all, industry-wide revenue has been rising at an expected CAGR of 4.0% over the past five years, totaling an estimated $61.6 billion in 2025, when revenue is anticipated to rise 1.9%. From early 2022 through May of 2024, the Bank of Canada steadily raised or maintained interest rates to combat inflation. Higher interest rates made developers more hesitant to invest in projects, driving up costs for builders and impeding profit. In 2024, however, the Bank of Canada began cutting interest rates consistently into 2025. Rates have been steady since March 2025 amid tariff uncertainty. Contractors will navigate a challenging landscape over the coming years. While interest rates will continue to fall, they will not reach pandemic lows. Labour shortages and continued elevated costs will also strain contractors' capacity. These challenges will affect the broader construction sector as well, pushing federal and provincial governments to introduce more infrastructure and workforce development programs. Over the next five years, apartment and condominium construction revenue is expected to expand at a CAGR of 1.1% to reach an estimated $65.2 billion in 2030.

Housing under construction in Canada 2006-2023 Published by Fernando de Querol Cumbrera, Jun 7, 2024 In 2023, there were approximately 354,730 housing units under construction in population centers of over 10,000 people in Canada. Those numbers for 2023 were lower than the figures a year earlier. However, during most of the period considered the number of homes under construction generally increased, as there were less than 145,000 homes under construction in 2009. Development of residential construction in Canada The number of housing starts overall has developed similarly, but it was somewhat more volatile. Generally, the cities with the largest populations, like Toronto and Montreal experience the highest number of construction starts. The construction industry remains vital to Canada’s economy, providing employment to people across the country and billions in economic output. Types of housing Although many Canadians were living in single-detached houses, their cities have started to embrace multifamily starts quite early and are moving away from single family residential construction. The younger demographics in Canada, including new Canadians and young families are often striving towards homeownership but are also aware of climate change. High energy performance housing often comes with a higher price tag, but efforts are being made nationally in order to enshrine affordability as a core objective within national building codes.

Graph and download economic data for Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Canada (ODCNPI03CAA659S) from 1949 to 2024 about issues, Canada, permits, residential, construction, and housing.

The value of residential construction in Canada represents the total dollar value of new residential building activity, measured in billions of constant 2017 dollars. This metric includes single-family homes, multi-family units, and residential renovations across all provinces and territories, adjusted for inflation to provide real-terms comparison over time. Data is sourced from Statistics Canada's construction statistics program.

In 2023, there were approximately ******* housing units under construction in population centers of over 10,000 people in Canada. Those numbers for 2023 were lower than the figures a year earlier. However, during most of the period considered the number of homes under construction generally increased, as there were less than ******* homes under construction in 2009.

Development of residential construction in Canada The number of housing starts overall has developed similarly, but it was somewhat more volatile. Generally, the cities with the largest populations, like Toronto and Montreal experience the highest number of construction starts. The construction industry remains vital to Canada’s economy, providing employment to people across the country and billions in economic output. Types of housing Although many Canadians were living in single-detached houses, their cities have started to embrace multifamily starts quite early and are moving away from single family residential construction. The younger demographics in Canada, including new Canadians and young families are often striving towards homeownership but are also aware of climate change. High energy performance housing often comes with a higher price tag, but efforts are being made nationally in order to enshrine affordability as a core objective within national building codes.