Statistics Canada reported on October 21, 2026, that investment in residential building construction edged down 0.3% in August to $16.1 billion, as spending on single-family homes fell while multi-unit construction grew, according to its release on investment in building construction. Figures are seasonally adjusted and in current dollars unless stated otherwise; detailed series are in Table 34-10-0293-01.
- Residential investment: down $45.4 million (−0.3%) to $16.1 billion in August 2026.
- Single-family homes: down 1.3% to $7.6 billion, led by British Columbia (−$46.5 million) and Quebec (−$45.7 million).
- Multi-unit homes: up 0.6% to $8.5 billion, led by Quebec (+$74.7 million) and British Columbia (+$65.2 million), partly offset by Ontario (−$79.4 million).
- All building construction: up 0.1% to $23.5 billion, and 7.9% higher than August 2025. Adjusted for prices, it edged down 0.1% on the month but was up 4.7% year over year.
What the August numbers show
This series measures the dollar value of work put in place on buildings each month, not the number of homes started. It shows where construction money is going. In August, multi-unit projects such as apartments and condominiums took a larger share of residential spending than single-family homes, continuing the tilt seen in August building permits, which were also led by multi-unit homes.
Non-residential construction rose 1.0% to $7.4 billion, driven by institutional projects such as schools and by commercial buildings, mostly in Ontario and Quebec.
What it means and who is affected
Our interpretation: the data points to a market where new supply is coming mainly from multi-unit buildings, while single-family building activity is easing in several provinces. Buyers looking for new detached homes may find fewer new projects in some markets, while condo and rental supply continues to be built. The monthly change is small, so one month is not a trend; CMHC's September housing starts offer another view of the pipeline.
Owner-builders, small infill developers and buyers of new builds are the most directly affected. Construction financing is usually released in stages as work is completed, so cost changes and delays affect how much each draw covers.
What to check next
- If you plan a custom build or major renovation, ask lenders how their draw schedule works and what inspections or appraisals each draw requires. A construction mortgage broker can compare options.
- Compare draw and completion terms among construction lenders, and budget a contingency for cost overruns.
Statistics Canada says September data will be released on November 19.
Sources
- Statistics Canada, Investment in building construction, August 2026, 2026-10-21. Accessed 2026-10-26.
- Statistics Canada, Table 34-10-0293-01 Investment in building construction, 2026-10-21. Accessed 2026-10-26.
General information only, not financial advice. Figures are as published by Statistics Canada on October 21, 2026, and are subject to revision.
