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Canada's Future Housing Supply Points to Weaker Momentum While Starts Slip Less Than Expected in May

BY MT Newswires | ECONOMIC | 08:34 AM EDT

08:34 AM EDT, 06/15/2026 (MT Newswires) -- The total monthly seasonally adjusted annual rate (SAAR) of housing starts for all areas in Canada decreased 6% month over month in May at 261,377 units compared with April, said Canada Mortgage and Housing Corporation (CMHC) on Monday.

May's decrease was better than the 255,200 consensus figure provided by MUFG.

The six-month trend in housing starts was virtually flat in May, with a slight increase of 0.5% month over month to 258,010 units, according to CMHC. The rural starts monthly SAAR estimate was 14,357 units.

May's "results suggest that construction activity is uneven and taken together with the decline of approved units not yet started and market intelligence point to weaker momentum for future supply," said Aled Ab Iorwerth, Deputy Chief Economist at CMHC.

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 variation.

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

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