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2025-09-16 20:38:04
Canada's housing starts plummeted 16% in August. (1) Canada's housing starts fell 16% month-over-month to 245,800 units in August, well below market expectations of 277,500 units and a significant decline from the revised July figure of 293,500 units. (2) In urban areas with a population of over 10,000, housing starts increased 10% year-over-year to 18,400 units. (3) Montreal led the way with a 32% year-over-year increase, primarily driven by multi-unit housing projects; Vancouver saw a significant year-over-year increase of 46%. (4) Toronto's housing starts were essentially flat year-over-year. (5) Although some major cities maintained growth, overall national housing starts fell short of expectations, reflecting signs of cooling housing market activity.
