Quote:
Originally Posted by Changing City
If 'housing starts is a lagging indicator', building permits are a leading indicator. The vast majority of projects that obtain a permit proceed to construction. Here's the Statistics Canada data for housing units permitted in 2025 for those same six CMAs.
Toronto 34,906
Vancouver 29,401
Montreal 26,959
Calgary 20,126
Edmonton 18,685
Ottawa-Gatineau 15,007 |
Yes, generally that's the case. It's a decent indicator for what's coming, but much like housing starts it has scales also, as not all permits that are applied for at the same time start at the same time, some might be two weeks after application and some might be 6 months.
Even though housing starts have a lag, I like that they are an actual start.
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