The number of new residential construction projects that have begun in a given period, tracked by CMHC (Canada Mortgage and Housing Corporation). A housing start is counted when construction begins on the foundation. This metric covers single-family homes, townhouses, and apartment buildings and is a key indicator of future housing supply.
Why It Matters
Housing starts tell you where the market is heading in terms of supply. High starts today mean more homes available in 1 to 3 years. Low starts signal a potential future supply crunch, which can push prices up. It's a forward-looking metric that complements the backward-looking sales data.
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