Canada Poised for Homebuilding Growth Beyond 2025

National housing starts in Canada fell 2% monthly to 17,691 units, with a 4% year-to-date decline compared to last year. The six-month trend dropped 1.3% to 244,149 units, signaling ongoing challenges for homebuilding. Montreal and Vancouver saw increases, while Toronto remained flat. High costs, low demand, and excess inventory are expected to keep construction declining through 2028, with a particularly weak condo market outlook.