Ottawa housing stats
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The July housing stats came out this week and while completions continue to be higher than ever, there was a noticeable slowdown in construction starts last month. In 2022 there was a noticeable August spike in completions and I'll be curious to see whether that's matched this year; under-construction numbers have been overall consistently growing month-to-month over the last three years. A dip in under-construction numbers over the last several months will be noticeable later this year and into next, however.
Apartments continue to be the bulk of units under construction. There have been a steadily declining number of singles underway since the beginning of the year, from 2,126 in January to 1,460 in July. There are currently 2,073 rows under construction, and 10,919 apartments under construction.
The July 2023 report is available from CMHC here.
