Regional gain in new housing construction in 2024 amid declines in major cities

Canada's housing market saw a modest increase in the number of housing starts, or new home construction, in 2024.Canada Mortgage and Housing Corporation (CMHC) says housing starts totalled 245,120 last year, up from 240,267 a year earlier. The number of starts rose two per cent compared to 2023."Canada's urban centres saw an uptick in housing starts in 2024 compared to last year, marking the third-highest year on record," said CMHC chief economist Mathieu Laberge in a news release.While the two