Canada Housing starts for January come in at 239.7K vs 252.5K est (annuallzed)

• Prior month 232.5K revised from 231.5K
• Housing starts for January 239.7K vs 252.5K annualized.
• Urban housing starts (pop. 10,000+): ↑ 3% to 220,643 units (seasonally adjusted annual rate).
• Rural housing starts: Estimated at 19,096 units (seasonally adjusted annual rate).

Other details:

• Housing starts trend (6-month avg): ↓ 2.5% to 236,892 units in January.
• Year-over-year actual housing starts (pop. 10,000+): +7% (15,930 units in Jan 2025 vs. 14,883 in Jan 2024).
• Montréal: +112% YoY in actual starts, driven by multi-unit projects.
• Vancouver: +37% YoY, also driven by multi-unit starts.
• Toronto: -41% YoY, due to a decline in multi-unit starts.