Canadian Housing Starts Up 19% from a Year Ago

AI Article Summary
Housing starts in Canada rose by 19% year-over-year in the country's largest markets in September, with significant contributions from Montreal and Toronto. Overall, housing starts increased to 22,375 units in urban centers with populations over 10,000. Despite these increases, there are concerns about a possible slowdown in residential construction. CMHC noted that current levels reflect past investor decisions which were made during higher investor confidence.
What This Means for Canadian Contractors
This increase in housing starts shows how urban centers like Montreal and Toronto are driving residential demand, signaling strong interest in rental-apartment projects. For Canadian builders, this means potentially expedited processing of permits to meet increasing demand and ensuring a robust supply chain to handle high volumes of construction materials. However, the anticipated slowdown suggests builders should be cautious of market volatility in their future planning.