The annual pace of housing starts in Canada fell 22 per cent in November as work began on fewer multi-unit projects, Canada Mortgage and Housing Corp. said Friday.
The agency said the monthly seasonally adjusted annual rate of housing starts in November came in at 212,624 units, down from 272,264 in October.
The drop came as the annual pace of urban starts fell 23 per cent to 195,363 units, with the rate of multi-unit urban starts down 27 per cent at 151,297. Single-detached urban starts fell seven per cent to 44,066 units.
“The notable drop in the rate of housing starts in November, particularly in the multi-unit space, should not come as a major surprise and reflects tighter economic conditions impacting construction timelines,” CMHC deputy chief economist Kevin Hughes said in statement.
“As the more difficult borrowing conditions and labour shortages now seem to be showing in the starts numbers, we can expect to see continued slower starts rates in the coming months.”
The rate of starts in Montreal was down 30 per cent, while Toronto and Vancouver both saw a drop of 39 per cent, driven by significantly lower multi-unit starts.
The annual pace of rural starts for November was an estimated 17,261.
The six-month moving average of the monthly seasonally adjusted annual rate of housing starts in November was 257,777, up 0.7 per cent from 255,876 in October.
TD Bank economist Rishi Sondhi said the data was consistent with the bank's view that housing starts will trend lower moving forward, as past weakness in home sales flow through to new supply.
“However, we're anticipating some bounceback took place in December, consistent with rising permit issuance in recent months,” Sondhi wrote in a report on Friday.
He noted that government actions such as eliminating the GST on purpose-built rentals coupled with population growth will likely keep the level of starts elevated through 2024, even with the anticipated downtrend.
This report by The Canadian Press was first published Dec. 15, 2023.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
With U.S. President Joe Biden ending his reelection bid and endorsing Vice President Kamala Harris, Democrats now must navigate a shift that is unprecedented this late in an election year.
U.S. President Joe Biden ended his reelection campaign on Sunday after fellow Democrats lost faith in his mental acuity and ability to beat Donald Trump. He announced his decision in a letter posted on social media. Read the full text.
There was a powerful word being repeated in the joyful Newfoundland community of New-Wes-Valley on Sunday: 'Miracle.'
Amid the cost-of-living crisis, many Canadians are looking to find ways to save money, such as downsizing their home. But one Ottawa broker says there are several signs to consider before making the big decision.
A 12-year-old girl in Tennessee has been charged with murder, accused of smothering her eight-year-old cousin as the younger girl slept. A relative said they had been arguing over an iPhone.
Prime Minister Justin Trudeau will head to British Columbia on Sunday, where he will be on vacation with his family until Aug. 1.
Researchers surveyed about 300 people about their experiences being raised with or without humour and their views on their childhood, according to a study published Wednesday in the journal PLOS One.
Circumstances around a deceased individual in an apartment raise concerns for first responders.
There was a powerful word being repeated in the joyful Newfoundland community of New-Wes-Valley on Sunday: 'Miracle.'
CP24 reached out to Torontonians who are facing, or who have faced renovictions in the past in order to get a better sense of how the practice impacts people. The stories they shared show that renovictions not only inconvenience those affected, but can have profound impacts on their lives and futures.
Circumstances around a deceased individual in an apartment raise concerns for first responders.
Tributes are pouring in online for the two men who died in a plane crash in Tofino, B.C. earlier this week.
A swarm of bees living in a lamppost in Winnipeg’s Sage Creek neighbourhood has found a new home for its hive.
Thomas Archibald Franklin reflects on being 100 years young ahead of milestone birthday on Tuesday, bringing family and community together
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
With squadrons of police patrolling Paris' streets, fighter jets and soldiers primed to scramble, and imposing metal-fence security barriers erected like an iron curtain on both sides of the River Seine, the city appears ready to host the Olympics.
The U.S. Secret Service has acknowledged it denied some requests by Republican presidential nominee Donald Trump's campaign for increased security at his events in the years before the assassination attempt on him at a recent rally.
Russia and Ukraine exchanged drone, missile and shelling attacks on Sunday. At least two people were killed in Ukrainian strikes on the partly Russian-occupied Donetsk region, Russian state media said, while Ukrainian officials said Russian strikes wounded at least five people.
Nepal's newly appointed prime minister secured overwhelming support in parliament on Sunday with more than two-thirds of members voting in his favour.
Bangladesh's top court on Sunday scaled back a controversial quota system for government job applicants, a partial victory for student protesters after days of nationwide unrest and deadly clashes between police and demonstrators that have killed scores of people.
Prime Minister Justin Trudeau will head to British Columbia on Sunday, where he will be on vacation with his family until Aug. 1.
The most striking thing about walking the floor of the Republican National Convention (RNC) is seeing just how much this is Donald Trump's party, CTV News' Vassy Kapelos says.
The federal government says it has 'taken note' of a ruling from the top UN court that called Israel's presence in the occupied Palestinian territories unlawful.
It's been a hot, humid and wet summer so far in Ottawa, making it the perfect breeding ground for mosquitoes and elevating the risk of West Nile virus.
Health Canada issued recalls for various items this week, including steam cleaners, hedgehog pet food, kids' bike helmets and multivitamins.
Brian McConnell's daughter, Florence McConnell, died after a liposuction surgery complication in Morocco. Now, he warns others against undergoing cosmetic surgeries abroad.
Businesses from airlines to hospitals have been grappling with a faulty software update that caused technological havoc worldwide on Friday, and its repercussions continued through the weekend.
The first gene-edited pig organs ever transplanted into people came from animals born on this special research farm in the Blue Ridge mountains..
July's full moon will shine bright in the sky this weekend — and lands near the anniversary of a special lunar event worth celebrating.
Moviegoers ran toward the tornadoes this weekend, propelling 'Twisters' to a blockbuster opening. The standalone sequel to the 1996 hit made US$80.5 million in ticket sales from 4,151 theaters in North America, according to studio estimates Sunday.
Backlogs and processing delays of temporary U.S. visas required by entertainers, athletes and artists has forced some Canadian bands to cancel U.S. tour dates because paperwork wasn't processed in time.
Taylor Swift fans know all too well the costs that come with travelling to see the singer live on her Eras Tour.
The term 'coffee badging' has gained some new significance this week with multiple outlets reporting Amazon is allegedly taking measures to counter the workplace trend it refers to.
Canada’s airports, hospitals and police services are still returning to normal operations a day after a defective update to computers using Microsoft Windows caused a global technology outage.
A Canadian think-tank has a plan to keep young people from fleeing urban centres in search of more affordable accommodations.
Researchers surveyed about 300 people about their experiences being raised with or without humour and their views on their childhood, according to a study published Wednesday in the journal PLOS One.
Amid the cost-of-living crisis, many Canadians are looking to find ways to save money, such as downsizing their home. But one Ottawa broker says there are several signs to consider before making the big decision.
The term 'coffee badging' has gained some new significance this week with multiple outlets reporting Amazon is allegedly taking measures to counter the workplace trend it refers to.
The Vancouver Whitecaps demonstrated how good they can be, but also showed they still need to be better in a 4-3 loss to the Houston Dynamo in a Major League Soccer match Saturday night that snapped their six-game unbeaten streak.
With squadrons of police patrolling Paris' streets, fighter jets and soldiers primed to scramble, and imposing metal-fence security barriers erected like an iron curtain on both sides of the River Seine, the city appears ready to host the Olympics.
McLaren pair Lando Norris and Oscar Piastri locked out the Hungarian Grand Prix front row ahead of Formula 1 leader Max Verstappen after a stellar qualifying session for the British team on Saturday.
Stellantis is warning the owners of more than 2,900 hybrid minivans in Canada to stop charging their vehicles and park them outdoors, away from buildings and other cars, due to the risk of battery fires.
Ford Motor Co. says it plans to assemble its F-Series Super Duty pickup trucks at its Oakville, Ont., assembly plant starting in 2026, adding capacity of up to 100,000 additional units.
Toronto traffic has reached the point of a congestion crisis, according to the Toronto Region Board of Trade, whose new numbers warn of a significant impact on the city’s economy.
A swarm of bees living in a lamppost in Winnipeg’s Sage Creek neighbourhood has found a new home for its hive.
Around 100 acres of Manitoba Crown Land near the Saskatchewan border is being returned to the Métis community.
Nova Scotia is suspending the licensed Cape Breton moose hunt for three years due to what the province is calling a “significant drop” in the population.
Canadian pet owners visiting the United States will soon have to follow new rules, including requiring their dogs be microchipped.
A well-known childhood prank known as 'nicky nicky nine doors,' or 'ding dong ditch,' has escalated into a more serious game that could lead to charges for some Surrey, B.C. teens.
It's been more than a month since their good friend was seriously hurt in an accident and two teens from Riverview, N.B., are still having a hard time dealing with it.
Halifax bridges have collected thousands of coins from around the world.
A donated clawfoot bathtub has become the preferred lounging spot for a pair of B.C. grizzly bears, who have been taking turns relaxing and reclining in it – with minimal sibling squabbling – for the past year.
A pair of cemetery investigators are cleaning and preserving as many gravestones they have permission to work on, as they conduct their research and document gravestones.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
A stretch of the Trans-Canada Highway through the Fraser Canyon could be closed on short notice due to wildfires, officials warned again Sunday.
Daily high temperature records were broken in more than a dozen B.C. communities Saturday, as hot and dry weather continues to cause a surge in wildfire activity.
CP24 reached out to Torontonians who are facing, or who have faced renovictions in the past in order to get a better sense of how the practice impacts people. The stories they shared show that renovictions not only inconvenience those affected, but can have profound impacts on their lives and futures.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
A motorcyclist has died after he crashed into a tree in Scarborough.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
An investigation is underway into a suspicious death that took place early Saturday evening in northeast community of Vista Heights.
A new water main break that took place close to the feeder main break that has restricted residents water use since early June is impacting 14 residences, the city said Saturday.
Ottawa Police Service says one person was found dead in a vehicle that was on fire Sunday morning in Stittsville, Ont.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
The Ontario Provincial Police (OPP) says a three-year-old child, a driver and two other passengers were seriously injured following a collision on Highway 417 in Hawkesbury, Ont. Saturday afternoon.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
Moretti Pizzeria in Montreal's Griffintown neighbourhood, that was no stranger to police stops, fights and organized crime member visits has has its permits suspended for 25 days following a ruling from the liquor control board (RACJ).
Fast fashion is out and sustainability is in, according to new research from Concordia University.
One of the teenaged victims of a Thursday night stabbing in St. Albert has died.
Alberta's police watchdog has cleared four Edmonton police officers in the death of a man who fell from a fourth-floor balcony in 2020.
Suncor Energy Inc. filed a disclosure document last year laying out what would happen if extreme weather were to force a 10-day shutdown of its massive Base Plant oilsands mine in northern Alberta.
Three people are dead and three others are injured after a fatal crash on Highway 19 in Mabou, N.S., early Saturday morning.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
One person has died after a car left the road on Highway 217 in Centreville, N.S.
Dozens of people filled the stands at the Ralph Cantafio Soccer Complex Saturday to mourn the loss of a player who was killed at the south Winnipeg facility one week earlier.
A group of animal rights activists took a stand at the Manitoba Stampede & Exhibition, calling for a ban on all rodeos in the province.
A swarm of bees living in a lamppost in Winnipeg’s Sage Creek neighbourhood has found a new home for its hive.
Almost 200 public libraries in rural Saskatchewan will be receiving internet speed upgrades in a joint effort between SaskTel and the Ministry of Education.
If you are thinking of purchasing a new home, you may be shocked by the number of available houses on the market.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
Waterloo Regional Police are looking for a missing 15-year-old from Kitchener.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
The search ends for two missing women after a second body was found near the Grand River, the region announces progress on its land acquisition plan in Wilmot, and a blind dog gets a chance at a new life.
Saskatoon residents woke up Sunday morning to thick smoke and limited visibility caused by wildfires raging across Saskatchewan.
A new transit system meant to change the way people move around Saskatoon is beginning to take shape.
With new ranching methods, the image of a traditional shepherd with their cane and sheepdog has largely become a thing of the past. However, in the modern day, the shepherd is making a comeback, cane and all, in conservation.
Provincial police are investigating a single-vehicle crash in which three people died on Saturday night.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
A 60-year-old has died following a motorcycle crash Thursday at the intersection of Highway 17 and Second Avenue in the Greater Sudbury community of Coniston on Thursday.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
A trail of blood could be seen leading from a parking lot where it’s believed the shooting took place.
TennoCon has taken over RBC Place in London, Ont. this weekend. The event centres on a single game, Warframe, which was developed by London-based Digital Extremes.
While employees still picketed in front of closed LCBO stores on Saturday, many were optimistic as a tentative deal to end the strike was reached between the LCBO and the Ontario Public Service Employees Union (OPSEU).
The Muskoka community kicked off Pride celebrations on Friday, ahead of its Pride Week.
An Orillia veteran celebrated his centennial birthday on Saturday with a grand celebration.
U.S. President Joe Biden dropped out of the 2024 race for the White House on Sunday, ending his bid for re-election following a disastrous debate with Donald Trump that raised doubts about his fitness for office just four months before the election.
An evaluation of Windsor's Homelessness and Housing Help Hub recommends H4 enhance access to mental health services, implement supportive housing programs, and consider a name change to reduce the stigma associated with its offerings.
The Liquor Control Board of Ontario (LCBO) and the union representing 10,000 of its workers reached a tentative agreement Saturday, clearing the way for stores to open Tuesday.
The University of Victoria in British Columbia says it has begun the process of removing the pro-Palestinian encampment on campus, telling protesters they are trespassing on school property
Daily high temperature records were broken in more than a dozen B.C. communities Saturday, as hot and dry weather continues to cause a surge in wildfire activity.
Tributes are pouring in online for the two men who died in a plane crash in Tofino, B.C. earlier this week.
Two people are dead after a serious crash that shut down Highway 1 near Sorrento, B.C. Saturday morning.
The number of wildfires in British Columbia has flared as more lightning storms bring the potential for further fire starts.
Standing on the edge of an open aircraft hatch, a smokejumper in a pale yellow suit steadies himself before rocking back then swinging out the door and vanishing as gravity takes over.
Most people will do everything they can to stay inside or find some shade during this heat wave but for some that just isn't an option.
Chris Carbert brought guns and body armour to the Coutts blockade, but says there was no plan for violence unless he had to perhaps flee to the mountains and fend off someone trying to give him a COVID-19 vaccine shot.
Lethbridge police are warning the public over what they're calling a "bait-and-switch tactic" being used by scammers who are posting on social media about phony alerts about missing children, seniors and pets.
As part of National Drowning Prevention Week, police reminding people to be safe while in and around water and to remember their lifejackets.
Provincial police in northern Ontario have been cleared in an incident where a 35-year-old man was injured while being arrested on a Mental Health Act warrant in Thessalon, Ont.
A pair of soccer moms in Sault Ste. Marie have rallied the community around a good cause.
There was a powerful word being repeated in the joyful Newfoundland community of New-Wes-Valley on Sunday: 'Miracle.'
Newfoundland and Labrador Premier Andrew Furey called it a 'good news day' as he announced some Labrador City residents will be allowed to return home after a wildfire forced an evacuation last week.
Mounties in Newfoundland say a 71-year-old man is facing charges today related to his alleged involvement in a collision that killed two women in January.
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
