CMHC: National starts flat amidst regional highs and lows

The CMHC reports that housing starts across Canada's principal cities have remained stable but show significant regional variation in 2025. While cities like Calgary, Edmonton, and Montreal experienced high construction rates, Toronto and Vancouver saw declines, primarily due to slow condominium starts. Rental housing construction surged, driven by government incentives, but the overall slowdown in the homeownership market poses future risks. Development charges and approval times are major hurdles for increased construction in cities like Vancouver and Toronto.