Canada's Housing Starts Remain Resilient as Rental Projects Offset Ownership Slump, BMO Says

08:40 AM EDT, 10/20/2026 (MT Newswires) -- Canada's housing starts edged higher in September, remaining resilient despite a downturn in the resale market and weak pre-construction sales, according to BMO Capital Markets in a note. However, the headline figure masks a sharper downturn in the ownership market, with starts for owner-occupied homes and condos dropping to their lowest level since 1995, BMO said in a Monday note. The sustained downturn in the ownership and investor markets has made it harder for developers to obtain pre-sales and financing, holding back new project launches, said the bank. Purpose-built rental construction continues to support overall housing starts, underpinned by projects initiated during the previous population boom, government incentives and the conversion of some condominium developments into rental housing, added BMO.