The Canada Mortgage and Housing Corporation reported a 4% increase in new home construction in Canada’s major cities, yet starts remain insufficient to meet demand.
Calgary, Edmonton, and Montreal saw significant gains in housing starts, while Toronto, Vancouver, and Ottawa faced declines, highlighting regional disparities in the housing market.
High costs, regulatory delays, and rising interest rates hampered construction, particularly affecting condominium developments, as potential buyers hesitated to invest.
While apartment starts rose due to demand for rental units, overall construction is still struggling to bridge the existing supply gap and enhance affordability.
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