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Higher incomes and population increases are just two of the many factors influencing residential construction.

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U.S. and Canada Monthly Housing Starts

On a relative population basis, and although the gap has narrowed, Canada has been beating the U.S. in housing starts every month for 16 straight years.

Seasonally Adjusted at Annual Rates (SAAR).
The last data points are for February, 2021.
ARROWS: U.S. numbers to be read from left axis; Canadian from right axis.

Sources: U.S. Census Bureau & Canada Mortgage & Housing Corp (CMHC) / Chart: ConstructConnect-CanaData.

Per Cent Change in Year-to-date Housing Starts — Ranking of Canada’s Major Cities

Among the nation's six largest cities, by population, Montreal is recording an outstanding gain year to date, +58%. Edmonton, Calgary and Vancouver are also doing well, each ahead by a little more than one third.

Jan-Feb 2021 vs Jan-Feb 2020.

Data source: Canada Mortgage & Housing Corporation (CMHC) based on actuals rather than seasonally adjusted data.
Chart: ConstructConnect — CanaData.

Per Cent Change in Year-to-date Housing Starts — Ranking of Canada’s Provinces

The only provinces with declines in housing starts year to date in 2021 are in the Atlantic Region: Newfoundland and Labrador, -3%; Nova Scotia, -7%; and Prince Edward Island, -39%. Interestingly, the province with the biggest percentage-change increase year to date, however, is also in the Atlantic: New Brunswick, +90%.

Jan-Feb 2021 vs Jan-Feb 2020.

Data source: Canada Mortgage and Housing Corporation (CMHC) (based on actuals rather than seasonally adjusted data.)
Chart: ConstructConnect — CanaData.

U.S. Regional Housing Starts

U.S. Northeast - February 2021 m/m = -39.5%; y/y = -2.5%; U.S. Midwest - February 2021 m/m = -34.9%; y/y = -29.9%; U.S. South - February 2021 m/m = -9.7%; y/y = -16.6%; U.S. West - February 2021 m/m = +17.6%; y/y = +15.8%.

Data source: U.S. Census Bureau (Department of Commerce).
Charts: ConstructConnect — CanaData.

U.S. Monthly Housing Starts (seasonally adjusted at annual rates)

Jan-Feb Avg. 2020 = 1.592 million units; Jan-Feb Avg. 2021 = 1.503 million units (-5.6% ytd). Dec 2020's 1.670 has been peak so far since last recession.

Data source: U.S. Census Bureau (Department of Commerce).
Chart: ConstructConnect — CanaData.

Canada Monthly Housing Starts (seasonally adjusted at annual rates)

Jan-Feb Avg. 2020 = 213,100 units; Jan-Feb Avg. 2021 = 265,100 units (+24.4% ytd). 284,000 units SAAR in Jan 2021 was a multi-decade high.

Data source: Canada Mortgage and Housing Corporation (CMHC).
Chart: ConstructConnect — CanaData.