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In May 2025, housing starts across Canada stabilized following April’s 30% surge, slipping just 0.2% month over month—holding at roughly 243,407 units on a six‑month trend and marking a 9% year-over-year gain (23,745 starts vs. 21,814 last May). This plateau follows April’s record-setting activity, driven largely by a spike in multi‑unit projects, which analysts describe as a normalization rather than a real rebound .

Regionally, May’s momentum came from Quebec and the Prairies—particularly Manitoba and Saskatchewan—where single-detached and purpose-built rental starts surged 209% and 206% year-over-year, respectively. However, Ontario and British Columbia continued to lag, largely due to weakened condominium demand. Vancouver saw a 10% drop in starts month-over-month, while Toronto plunged 22% year-over-year because of softness in multi‑unit construction.

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