The number of housing starts in Quebec decreased significantly in December 2022 compared to November of the same year (-36%).
Construction began on 26,652 homes, up from 41,645 last month, according to annualized seasonally adjusted (SDA) data from Canada Mortgage and Housing Corporation (CMHC).
“2022 ended with a slight decline in both the monthly seasonally adjusted annualized (SDA) housing starts data and the national trend in December. On the DDA side, however, the Toronto, Montreal (+2%) and Vancouver (+36%) markets all saw increases in total housing starts, including a sharp 72% increase in Toronto in December Bob Dugan, CMHC Chief Economist .
Year over year housing starts in Quebec centers with 10,000 or more residents fell 44% in December from 3,618 in 2011.
Nationally, December housing starts across Canada were down 5% from November, falling to 248,625 from 263,022.