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Canada Housing Starts Jump 14% in September to 279,000 Units, Surpassing Expectations: CMHC

BY MT Newswires | ECONOMIC | 10/16/25 08:31 AM EDT

08:31 AM EDT, 10/16/2025 (MT Newswires) -- The total monthly seasonally adjusted annual rate (SAAR) of housing starts for all areas in Canada was up 14% in September, or 279,234 units, compared with August's 244,543 units, said Canada Mortgage and Housing Corporation (CMHC) Thursday.

September's rise was better than the 255,000 increase expected by Bank of Montreal (BMO).

Actual housing starts were up 19% year-over-year in centers with a population of 10,000 or greater, with 22,375 units recorded in September, compared with 18,806 units in September 2024. The year-to-date total was 178,033, up 5% from the same period in 2024, stated CMHC.

"While these results indicate some resilience, it is worth noting that current housing starts levels are generally reflective of decisions made months or even years ago when investor confidence was higher than it is today," said Tania Bourassa-Ochoa, CMHC's deputy chief economist.

The rural starts monthly SAAR estimate was 24,889 units.

CMHC, the country's national housing agency, defines a housing start as the beginning of construction work on the building where the dwelling unit will be located. It uses a rate adjustment to remove the data's seasonal variations.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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