Canada housing starts fall more than expected in January

By Tahani Elghazaly
Published February 16, 2026

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Data released on Monday, February 16, 2026 showed Canada’s housing starts fell more than expected in January, according to Canada Mortgage and Housing Corporation (CMHC).

CMHC said the seasonally adjusted annual rate (SAAR) of housing starts dropped to 238,049 units in January from a revised 280,668 in December. Market expectations had pointed to roughly 257,500.

The agency’s six-month trend slipped 3.5% to 254,794 units. Actual starts in centres with populations of 10,000+ rose 1% year over year to 16,088 units, while the rural starts SAAR estimate was 20,485 units. Among the big three, actual starts rose in Vancouver, edged down in Toronto, and fell sharply in Montreal.

Next release: CMHC said February housing starts data will be released on March 16 at 8:15 a.m. ET.