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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

Monthly average U.S. housing starts ytd in 2021 are +20.4% (vs Jan-Jul 2020). In Canada, the rate of increase has been 2x as fast, +41.2%. On a per capita basis, Canada has recorded a higher level of home starts than the U.S. in every month for the past 16 straight years.

Seasonally Adjusted at Annual Rates (SAAR).
The last data points are for July, 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

It's highy unusual that Canada would be experiencing a boom in housing starts with no help from Toronto (which is only +1% ytd). But cities in Toronto's orbit have been showing good advances, including Oshawa, Guelph, Barrie & Kitchener.

Jan-Jul 2021 vs Jan-Jul 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

Until recently & since the turn of the century in 2000, Canadian housing starts consistently averaged 200,000 units per month seasonally adjusted & annualized (SAAR). That's why it's such extraordinary news that 7 months into 2021, they've averaged 290,000 units SAAR (or nearly half as much again).

Jan-Jul 2021 vs Jan-Jul 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

Northeast: July 2021 m/m = -49.3%; Midwest: m/m = -6.9%; South: m/m = +2.1%; West: m/m = -11.3%

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

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

Jan-Jul Avg. 2020 = 1.315 million units; Jan-Jul Avg. 2021 = 1.584 million units (+20.4% ytd).

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

Canada Monthly Housing Starts (seasonally adjusted at annual rates)

Jan-Jul Avg. 2020 = 205,500 units; Jan-Jul Avg. 2021 = 290,100 units (+41.2% ytd).

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