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Construction Market Intelligence
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Toronto construction market

What residential construction currently looks like in Toronto: activity relative to population, the building pipeline, nominal and real growth, and market mix — measured against 15 other Canadian markets.

Trailing 12 months ending June 2026 Ontario · census metropolitan area · population 7,108,874 (2025)

  • Apartment-heavy
  • Renovation-heavy
  • Lower construction intensity
  • Declining real permit growth

Key metrics

Housing starts per 1,000 residents
3.76
26,737 starts in 12 months
15th of 16
Housing completions per 1,000 residents
3.99
28,391 completions
15th of 16
Units under construction per 1,000 residents
12.97
92,217 units at period end
6th of 16
Pending starts per 1,000 residents
2.39
16,992 units · secondary indicator
13th of 16
Residential permit value growth (constant dollars)
−12.6%
Nominal −11.7%
11th of 16
Residential construction price growth
+0.9%
Year over year
14th of 14
Renovation share of residential investment
50.8%
of residential investment
4th of 16
Apartment share of housing starts
75.6%
of housing starts
9th of 16

Current observations

  • Toronto recorded 26,737 housing starts over the trailing 12 months ending June 2026 — 3.76 per 1,000 residents, 15th of 16 tracked markets (median 8.33).
  • 12.97 units per 1,000 residents were under construction at period end (6th of 16 tracked markets), 3.3 times the 3.99 per 1,000 completed over the past 12 months.
  • Residential permit value fell 11.7% nominally and approximately 12.6% after adjusting for construction prices. The segments differ: in constant dollars, single-dwelling permit value changed −25.8% and multiple-dwelling −8.0%.
  • Renovation accounts for 50.8% of residential investment (4th of 16 tracked markets by renovation share). Apartments were 75.6% of housing starts and single-detached homes 10.7%.
  • Residential construction prices changed +0.9% year over year (14th of 14 tracked markets by price growth).
  • Pending starts — permits issued but not yet started — stood at 2.39 per 1,000 residents (13th of 16 tracked markets). This is a secondary indicator of the current backlog, not a forecast.

Generated from the published values on this page using fixed rules. They describe current measured conditions and are not forecasts.

Historical context

Monthly, as trailing 12-month totals (except units under construction, a month-end stock), 2019 to June 2026.

Housing starts by dwelling type

Trailing 12-month starts. Multi-unit = semi-detached, row and apartment.

  • Single-detached
  • Multi-unit
Housing starts by dwelling type, Jan 2019 to Jun 2026. Latest: Single-detached 2,869; Multi-unit 23,868. Full values in the table below the chart.020,00040,00060,00020192020202120222023202420252026
Show all monthly values as a table
Housing starts by dwelling type
Period endingSingle-detachedMulti-unit
January 20196,10535,039
February 20195,89431,159
March 20195,49131,305
April 20195,20532,587
May 20194,74332,712
June 20194,69831,056
July 20194,66330,499
August 20194,69731,102
September 20194,51830,460
October 20194,51929,402
November 20194,34227,500
December 20194,20926,253
January 20204,37225,423
February 20204,41926,196
March 20204,70725,204
April 20204,65527,164
May 20204,81427,825
June 20204,91128,183
July 20205,10729,337
August 20205,04131,515
September 20205,36531,233
October 20205,67531,262
November 20205,82631,987
December 20205,84832,739
January 20215,78033,200
February 20216,00632,173
March 20216,12535,247
April 20216,55632,556
May 20216,62532,585
June 20216,56332,307
July 20216,77232,032
August 20217,05730,533
September 20216,89732,514
October 20216,72232,332
November 20216,88835,193
December 20216,92034,978
January 20227,06033,570
February 20227,02237,118
March 20227,06335,131
April 20226,97134,463
May 20226,80435,285
June 20226,68036,525
July 20226,35236,213
August 20226,26536,806
September 20226,27037,619
October 20226,22737,876
November 20226,22535,437
December 20226,32938,780
January 20236,24139,920
February 20236,29138,981
March 20236,14739,144
April 20235,94242,249
May 20235,83542,597
June 20235,73945,618
July 20235,67847,464
August 20235,37947,365
September 20235,28646,903
October 20235,22447,815
November 20234,95746,887
December 20234,72142,707
January 20244,61244,126
February 20244,38144,780
March 20244,33145,142
April 20244,32043,265
May 20244,28544,228
June 20244,23939,950
July 20244,26940,243
August 20244,42338,115
September 20244,57134,825
October 20244,67033,507
November 20244,72433,450
December 20244,72332,995
January 20254,66131,420
February 20254,59128,320
March 20254,39926,243
April 20254,34325,535
May 20254,36324,547
June 20254,39923,365
July 20254,15619,805
August 20253,93220,022
September 20253,73922,160
October 20253,53321,322
November 20253,41421,191
December 20253,25722,830
January 20263,19022,841
February 20263,13322,491
March 20263,10422,800
April 20262,99523,699
May 20262,92623,380
June 20262,86923,868

Under construction and completions

Units under construction (month-end) and trailing 12-month completions.

  • Under construction
  • Completions (12 mo)
Under construction and completions, Jan 2019 to Jun 2026. Latest: Under construction 92,217; Completions (12 mo) 28,391. Full values in the table below the chart.050,000100,000150,00020192020202120222023202420252026
Show all monthly values as a table
Under construction and completions
Period endingUnder constructionCompletions (12 mo)
January 201972,59437,148
February 201972,11735,478
March 201972,66235,003
April 201972,74934,964
May 201971,77933,159
June 201973,29031,777
July 201971,02133,836
August 201972,31133,676
September 201973,71131,462
October 201975,40429,285
November 201975,17928,186
December 201974,45127,410
January 202074,16527,469
February 202074,19727,780
March 202073,72828,074
April 202076,53727,075
May 202076,18327,348
June 202077,66728,067
July 202078,82026,185
August 202081,43226,970
September 202080,82429,110
October 202081,33430,648
November 202081,45731,297
December 202081,94230,841
January 202183,53529,338
February 202181,06930,662
March 202180,92733,450
April 202180,90734,203
May 202178,49036,287
June 202178,34637,705
July 202179,00937,587
August 202180,62337,398
September 202183,03336,209
October 202183,72835,668
November 202187,10735,474
December 202186,16336,723
January 202285,60537,626
February 202287,77436,892
March 202287,65635,007
April 202287,51634,249
May 202289,04130,970
June 202291,14829,717
July 202291,10230,349
August 202292,78530,740
September 202296,13330,621
October 202296,24630,724
November 202298,91328,982
December 2022101,43428,955
January 2023100,91829,960
February 2023100,69231,088
March 202399,54332,139
April 2023102,12132,421
May 2023103,02033,237
June 2023107,62733,637
July 2023109,10433,905
August 2023104,51639,799
September 2023105,79541,293
October 2023106,75141,992
November 2023105,63044,539
December 2023105,12643,139
January 2024105,07343,922
February 2024105,24244,282
March 2024103,85944,801
April 2024100,97648,263
May 2024101,57049,545
June 2024101,67849,750
July 2024102,78950,474
August 2024102,00444,704
September 2024101,91142,933
October 2024102,04342,546
November 2024102,63840,570
December 202499,80642,442
January 202599,71040,918
February 202598,76738,898
March 202594,31339,780
April 202594,69735,874
May 202594,02336,213
June 202593,53335,648
July 202593,23833,229
August 202591,07234,601
September 202591,93936,287
October 202589,25638,054
November 202589,71738,234
December 202590,56836,063
January 202691,45535,015
February 202689,12735,515
March 202688,71431,727
April 202690,55031,201
May 202691,38229,241
June 202692,21728,391

Residential permit value: nominal and constant dollars

Trailing 12-month value, $ millions. Constant dollars are Statistics Canada’s price-adjusted series.

  • Nominal
  • Constant dollars
Residential permit value: nominal and constant dollars, Jan 2019 to Jun 2026. Latest: Nominal $14,257M; Constant dollars $13,434M. Full values in the table below the chart.$0M$10,000M$20,000M$30,000M20192020202120222023202420252026
Show all monthly values as a table
Residential permit value: nominal and constant dollars
Period endingNominalConstant dollars
January 2019$12,142M$22,137M
February 2019$12,139M$22,056M
March 2019$12,231M$22,150M
April 2019$12,181M$22,030M
May 2019$11,967M$21,584M
June 2019$11,702M$21,079M
July 2019$11,851M$21,321M
August 2019$12,026M$21,601M
September 2019$12,026M$21,568M
October 2019$11,433M$20,476M
November 2019$11,265M$20,167M
December 2019$11,182M$20,012M
January 2020$10,678M$19,105M
February 2020$10,798M$19,294M
March 2020$10,645M$19,009M
April 2020$10,730M$19,104M
May 2020$11,045M$19,584M
June 2020$11,166M$19,761M
July 2020$11,578M$20,395M
August 2020$11,734M$20,597M
September 2020$11,884M$20,786M
October 2020$12,647M$21,957M
November 2020$12,961M$22,374M
December 2020$13,302M$22,852M
January 2021$14,214M$24,172M
February 2021$14,193M$24,012M
March 2021$15,095M$25,272M
April 2021$16,050M$26,537M
May 2021$15,628M$25,484M
June 2021$16,439M$26,275M
July 2021$16,756M$26,265M
August 2021$16,689M$25,807M
September 2021$16,967M$25,847M
October 2021$16,628M$24,861M
November 2021$17,034M$25,033M
December 2021$16,749M$24,274M
January 2022$16,266M$23,070M
February 2022$16,365M$22,933M
March 2022$16,503M$22,609M
April 2022$15,796M$21,249M
May 2022$15,696M$20,745M
June 2022$16,002M$20,510M
July 2022$15,191M$19,070M
August 2022$15,985M$19,630M
September 2022$15,548M$18,785M
October 2022$14,676M$17,480M
November 2022$14,456M$16,861M
December 2022$14,978M$17,220M
January 2023$14,960M$16,916M
February 2023$15,072M$16,861M
March 2023$15,357M$16,856M
April 2023$15,631M$16,980M
May 2023$15,917M$17,104M
June 2023$15,611M$16,503M
July 2023$16,210M$16,980M
August 2023$15,287M$15,856M
September 2023$15,692M$16,165M
October 2023$16,082M$16,500M
November 2023$16,045M$16,335M
December 2023$15,304M$15,477M
January 2024$14,997M$15,063M
February 2024$14,950M$14,938M
March 2024$13,820M$13,704M
April 2024$14,803M$14,578M
May 2024$15,769M$15,441M
June 2024$15,494M$15,100M
July 2024$15,296M$14,854M
August 2024$15,444M$14,967M
September 2024$16,055M$15,518M
October 2024$16,504M$15,922M
November 2024$16,401M$15,791M
December 2024$17,801M$17,104M
January 2025$18,153M$17,416M
February 2025$18,566M$17,790M
March 2025$18,907M$18,102M
April 2025$18,185M$17,379M
May 2025$16,734M$15,962M
June 2025$16,142M$15,373M
July 2025$16,225M$15,430M
August 2025$15,868M$15,078M
September 2025$15,193M$14,418M
October 2025$14,994M$14,217M
November 2025$14,550M$13,789M
December 2025$13,903M$13,160M
January 2026$13,667M$12,925M
February 2026$13,672M$12,914M
March 2026$13,871M$13,087M
April 2026$13,669M$12,884M
May 2026$13,975M$13,169M
June 2026$14,257M$13,434M

Market mix

Housing starts by dwelling type, 12 months

Housing starts by dwelling type in Toronto
Dwelling typeStartsShare
Single-detached2,86910.7%
Semi-detached940.4%
Row3,57113.4%
Apartment and other20,20375.6%

Rental-intended starts: 45.1% of all starts.

Renovation vs. new construction

Renovation 50.8% New construction 49.2%

Share of residential building investment. Alterations are 10.0% of residential permit value (a separate source).

Growth: nominal and constant dollars

Nominal and constant-dollar growth, trailing 12 months ending June 2026 versus the prior 12 months
SeriesNominalConstant $
All residential permits−11.7%−12.6%
Single-dwelling buildings−25.4%−25.8%
Multiple-dwelling buildings−6.8%−8.0%
Residential building investment−9.0%−10.0%

Nominal growth includes construction-price change; constant-dollar growth is Statistics Canada’s price-adjusted series. They are shown side by side rather than subtracted.

All published metrics

All published construction metrics for Toronto, trailing 12 months ending June 2026
MetricTorontoDefinition
Population7,108,874July 1 population estimate for the census metropolitan area.
Housing starts, trailing 12 months26,737Dwelling units started over the trailing 12 months (CMHC Starts and Completions Survey).
Housing starts per 1,000 residents3.76Housing starts (all dwelling types) over the trailing 12 months divided by the CMA population estimate, per 1,000 residents.
Housing starts, change vs prior 12 months−3.7%Change in trailing-12-month housing starts compared with the 12 months before.
Housing completions, trailing 12 months28,391Dwelling units completed over the trailing 12 months.
Housing completions per 1,000 residents3.99Dwelling units completed over the trailing 12 months divided by the CMA population estimate, per 1,000 residents.
Completions, change vs prior 12 months−20.4%Change in trailing-12-month completions compared with the 12 months before.
Units under construction92,217Dwelling units under construction at the end of the reference period.
Units under construction per 1,000 residents12.97Dwelling units under construction at the end of the reference period (a stock, not a 12-month flow) per 1,000 residents.
Under construction, change vs a year earlier−1.4%Change in units under construction compared with the same month a year earlier.
Pending starts16,992Units with a building permit issued but not yet started, at the end of the reference period.
Pending starts per 1,000 residents2.39Units with a building permit issued but not yet started, at the end of the reference period, per 1,000 residents. A secondary indicator of the current pipeline, not a forecast of starts.
Pending starts, change vs a year earlier+13.4%Change in pending starts compared with the same month a year earlier.
Dwelling units authorized per 1,000 residents5.02Dwelling units created by building permits issued over the trailing 12 months, per 1,000 residents.
Authorized units, change vs prior 12 months−15.1%Change in dwelling units authorized by building permits compared with the prior 12 months.
Residential permit value, trailing 12 months$14.26BValue of residential building permits, current dollars.
Residential permit value growth (nominal)−11.7%Change in the value of residential building permits over the trailing 12 months versus the prior 12 months, in current dollars.
Residential permit value growth (constant dollars)−12.6%The same change measured with Statistics Canada’s constant-dollar permit values, which remove construction-price change.
Residential investment growth (nominal)−9.0%Change in residential building investment over the trailing 12 months versus the prior 12 months, current dollars.
Residential investment growth (constant dollars)−10.0%The same change measured in Statistics Canada’s constant-dollar investment series.
Residential construction price index (2023 = 100)106.1Average of the four latest quarterly index values, 2023 = 100. Each market is indexed to its own 2023 prices, so index levels show price change within a market and cannot be compared across markets.
Residential construction price growth+0.9%Change in the residential building construction price index (average of the four latest quarters versus the four before). Not published for every CMA.
Renovation share of residential investment50.8%Renovation spending as a share of total residential building investment over the trailing 12 months.
Alterations share of residential permit value10.0%Permit value for alterations and improvements as a share of all residential permit value — an independent view of renovation activity.
Apartment share of housing starts75.6%Apartment and other unit types as a share of all housing starts over the trailing 12 months.
Single-detached share of housing starts10.7%Single-detached units as a share of all housing starts over the trailing 12 months.
Rental share of housing starts45.1%Starts intended for the rental market as a share of all starts over the trailing 12 months.

Compare Toronto

Where Toronto ranks

Analysis of this market

These articles retain their original data periods; the tables on this page show current figures.

Sources and data period

Figures cover the trailing 12 months ending June 2026, the latest period published for all 16 markets. Source data retrieved through September 12, 2026. This page was built on November 8, 2026; the build date is not the data period. Values not published by the source are shown as “Not published”, never estimated.

Methodology, definitions and limitations

Dataset generated September 13, 2026.

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    Construction Market Intelligence

    An independent publication built from official Statistics Canada and CMHC data. Current data: trailing 12 months ending June 2026.

    Contains information licensed under the Open Government Licence – Canada. Not affiliated with or endorsed by Statistics Canada or CMHC.