Jul 16, 2026
Housing starts missed estimates in June, falling to 239K on softer multi-unit activity…
… and down on a Y/Y basis, with continued weakness in Alberta and a large decline in BC dragging down modest gains in other western provinces.
Construction remains subdued, with multi-unit activity down ~25% since 2024 - but with absorption starting to stabilize…
… we could be nearing the conditions needed to make a dent in inventory balances, which have grown to record levels after years of oversupply.
About Bullpen: Bullpen Finance Inc. publishes content on Canadian markets and provides paid research coverage of select Canadian issuers. Bullpen is paid in cash by covered issuers, does not accept stock or options, does not hold positions in covered securities, and does not conduct investment banking business. Bullpen and LodeRock Advisors Inc. are affiliated; LodeRock provides investor relations services to issuers, some of whom are covered by Bullpen Research. When a post discusses a covered issuer, a specific disclosure appears at the top of the post. This post is published for general information purposes. It is not personalized investment advice and is not tailored to any individual reader’s circumstances. Bullpen is not a registered investment adviser or dealer. For full disclosures, including analyst certification, jurisdictional statements, and conflict of interest policies, please see our Legal & Disclosures section on our website.
