Canada Mortgage and Housing Corporation reports decline in August housing starts
Summary
In August 2026, Canada Mortgage and Housing Corporation (CMHC) reported a decline in housing starts, with a six-month trend down 1.3% to 244,149 units compared to July. This drop follows a 2% year-over-year decrease in actual monthly housing starts in larger centers, totaling 17,691 units, as modest gains in Quebec and Alberta only partially mitigated broader declines in provinces like Ontario. CMHC anticipates ongoing moderation in construction activity in the months ahead, reflecting patterns consistent with their Housing Market Outlook.
Analysis
Kevin Hughes: Kevin Hughes serves as Deputy Chief Economist at the Canada Mortgage and Housing Corporation. He commented on the August housing starts data, noting that modest gains in Quebec and Alberta only partially offset declines in other provinces, particularly Ontario. His remarks indicated the results align with the organization's Housing Market Outlook and anticipated continued moderation in construction activity toward year-end. Canada Mortgage and Housing Corporation: Canada Mortgage and Housing Corporation is Canada's national housing agency responsible for mortgage insurance, housing research, and supporting government policies to advance affordability, equity, and climate compatibility in the housing system. It collects and publishes key data through surveys on starts, completions, and market absorption to provide insights into new housing supply. In the news, it released the August 2026 housing starts report showing a slight downward trend in the six-month moving average. Market Outlook: The August trends are consistent with CMHC's Housing Market Outlook anticipating further moderation in construction activity in the coming months. Housing Data Release: CMHC regularly issues monthly housing starts data on the eleventh business day to support analysis of construction activity and upcoming housing supply. Provincial Variations: Modest gains in certain provinces only partially offset broader declines, particularly in Ontario, according to the latest report.
Categories
macropolitics