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A one-month increase in housing starts can coexist with a weakening construction outlook, but the figures must be compared on the same basis. CMHC’s six-month trend for British Columbia fell 1% in August 2026 to 36,622 units at a seasonally adjusted annual rate (SAAR). That smoothed provincial measure was not a rebound. A separate monthly or local figure may have risen, but it should not be confused with the province-wide trend.
What happened to B.C. housing starts in August?
CMHC reported a six-month trend of 36,622 housing starts for British Columbia in August 2026, at a seasonally adjusted annual rate. The measure was down 1% from 37,039 in July. It represents a smoothed pace for centres with populations of 10,000 or more, not the number of homes that physically began construction during August.
The headline claim that starts “rebounded” therefore needs a measure and geography attached to it. It could describe a volatile monthly estimate, a year-over-year comparison or activity in a particular metropolitan area. CMHC’s provincial six-month trend does not support calling B.C. starts a rebound that month. Its release says Vancouver’s six-month trend rose 6%, driven by multi-unit starts, but that metropolitan result is not representative of the whole province. CMHC’s August 2026 housing starts and completions release provides the relevant measures.
Why monthly starts and the six-month trend can differ
CMHC reports monthly housing starts at a seasonally adjusted annual rate (SAAR), which annualizes a seasonally adjusted month’s activity. That figure can move sharply when construction starts—especially multi-unit projects—are uneven from one month to the next. CMHC uses a six-month moving average of seasonally adjusted annual-rate total starts alongside the monthly SAAR to show the broader direction and smooth those swings.
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Neither figure is a literal count of homes started in that calendar month: both are annualized rates, and the trend is additionally averaged over six months. A strong monthly reading can thus appear while the smoothed trend falls. CMHC cautions that relying on monthly SAAR alone can give a misleading impression of upcoming new supply.
What the Canada-wide figures add
The national measures also show why the distinction matters. In August, Canada’s all-areas six-month trend declined 1.3% to 244,149 units. The national all-areas monthly SAAR was nearly flat: 229,046 in August versus 229,360 in July. These are Canada-wide figures, not alternate estimates for B.C.
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| Measure | August 2026 | Comparison | Scope |
|---|---|---|---|
| B.C. six-month starts trend | 36,622 units SAAR | Down 1% from 37,039 in July | Centres with populations of 10,000 or more |
| Canada six-month starts trend | 244,149 units | Down 1.3% month over month | All areas |
| Canada monthly starts SAAR | 229,046 units | 229,360 in July | All areas |
All figures are from CMHC’s August 2026 release. The provincial trend and national monthly SAAR answer different questions; comparing them as if they were the same measure would be misleading.
Why the construction outlook remains weak
A rebound in a single month or city would not, by itself, establish a durable recovery. Housing projects take time to move from approvals to starts and then completions, while multi-unit construction can make monthly starts particularly lumpy. A short-run lift can therefore sit alongside a falling trend and expectations of weaker activity ahead.
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CMHC’s Summer 2026 outlook anticipated lower starts and described construction in Ontario and B.C. as historically low, particularly in the condominium market. In its August release, CMHC said it expected the downward trend to continue as activity moderates, especially toward year-end. Deputy Chief Economist Kevin Hughes said: “The latest results are consistent with CMHC’s Housing Market Outlook. While the current pace of starts is elevated compared to recent years, we expect the downward trend to continue as construction activity moderates in the coming months especially towards the end of the year.” See the CMHC Summer 2026 Housing Market Outlook.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Other construction indicators are not starts
Related figures can help describe the pipeline, but they measure different stages and should not be substituted for housing starts.
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- Units under construction: B.C. centres of 50,000 or more had 81,613 units under construction in August, up 1.6% month over month.
- Completions: Those centres recorded 2,040 completions, down 33.2% month over month. Nationally, centres of 50,000 or more recorded 17,550 completions, down 11.2% from July.
- Approved units awaiting starts: B.C. centres of 50,000 or more had 40,252 units in this category, down 3.6% month over month.
- New-home registrations: BC Housing recorded 2,093 registrations in August, down 23.6% year over year. Registrations are not starts; they are a separate indicator reported through a different system.
The construction figures are from CMHC’s August release; registrations are from BC Housing’s new homes data.
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How to read a “rebound” claim
- Check whether the figure is monthly SAAR, the six-month trend, or a year-over-year comparison.
- Check whether it covers all of B.C. or a city such as Vancouver.
- Keep starts separate from completions, units under construction, approved units awaiting starts and registrations.
- Look at the smoothed trend and outlook before treating one month’s movement as a sustained change in construction.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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