The housing starts in Canada stood at 263.21 thousand units in 2023. Over the period from 2013 to 2023, housing starts exhibited varied trends. There were significant increases in 2017 and 2021 with year-on-year variations of 11.04% and 24.47%, respectively. However, there were also downturns, most notably in 2013 and 2018, with decreases of -12.52% and -3.15%, respectively. Recent data shows a stabilization trend with only a 0.52% increase in 2023. The compound annual growth rate (CAGR) over the past five years from 2019 to 2023 was 4.34%. The forecasted data from 2024 to 2028 suggests a slower growth trend with a forecasted 5-year CAGR of 0.25%.

Trends to watch for in the future include:

Potential impacts of economic policies and housing market regulations.
Changes in immigration patterns and demographic shifts influencing housing demand.
Technological advancements in construction impacting housing starts efficiency.
Interest rate fluctuations affecting borrowing costs and investment in housing.