CMHC Says Canada's Housing Starts Tad Better Than Expected in February; Sees Higher Levels of Uncertainty

08:28 AM EDT, 03/16/2026 (MT Newswires) -- The total monthly seasonally adjusted annual rate (SAAR) of housing starts for all areas in Canada increased 4.5% in February to 250,900 units compared with January's 240,148 units, said the Canada Mortgage and Housing Corp. (CMHC) on Monday.

The rural starts monthly SAAR estimate was 20,400 units, noted CHMC.

Among Canada's three biggest cities, Montreal posted an 18% year-over-year increase in actual housing starts in February, driven by higher multi-unit and single-detached starts, said CMHC. Vancouver recorded a 60% increase due to higher multi-unit and single-detached starts. Toronto starts declined 28% due to lower multi-unit and single-detached starts, it added.

"Looking ahead, we expect heightened levels of business uncertainty and construction costs to weigh on the rate and trend of housing starts in the near-to-medium term," said Kevin Hughes, CMHC's deputy chief economist, in a statement.

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