Home affordability has worsened substantially in Canada since 2021. In the first quarter of 2025, the monthly single-family mortgage payment amounted to approximately 61.7 percent of a household's income, on average. In 2021, when affordability had improved slightly, the average mortgage payment constituted 46.5 percent of a household's income.

Housing markets in the United States and Canada are similar in many respects, but each has fared quite differently since the onset of the financial crisis. A comparison of the two markets suggests that relaxed lending standards likely played a critical role in the U.S. housing bust.

Ontario was the province expected to see the highest shortage of homes in Canada by 2030, according to a 2023 forecast. Based on the projected supply and housing demand, Canada is expected to experience a shortage of about *** million housing units by 2030. Ontario will account for approximate *** million of this housing gap.

Average House Prices in Canada increased to 688800 CAD in October from 687600 CAD in September of 2025. This dataset includes a chart with historical data for Canada Average House Prices.

The metropolitan area of Toronto had *** of the largest housing shortages between 2016 and 2022. Just in 2022, there were ******* housing completions less than new families were formed or registered in the Toronto. Meanwhile, the metro area of the city of Quebec saw more housing completions than families throughout that period, with the exception of 2021.

The average resale house price in Canada was forecast to reach nearly ******* Canadian dollars in 2026, according to a January forecast. In 2024, house prices increased after falling for the first time since 2019. One of the reasons for the price correction was the notable drop in transaction activity. Housing transactions picked up in 2024 and are expected to continue to grow until 2026. British Columbia, which is the most expensive province for housing, is projected to see the average house price reach *** million Canadian dollars in 2026. Affordability in Vancouver Vancouver is the most populous city in British Columbia and is also infamously expensive for housing. In 2023, the city topped the ranking for least affordable housing market in Canada, with the average homeownership cost outweighing the average household income. There are a multitude of reasons for this, but most residents believe that foreigners investing in the market cause the high housing prices. Victoria housing market The capital of British Columbia is Victoria, where housing prices are also very high. The price of a single family home in Victoria's most expensive suburb, Oak Bay was *** million Canadian dollars in 2024.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

In Canada, there were nearly twice more new families formed than housing units completed in 2022. There had been similar numbers of housing units completed than new families between 2003 and 2016. However, every year since 2017 with the exception of 2020, there has been large housing shortages, meaning that there was less housing built than families formed.

Discover the booming Canadian residential construction market! This report projects a CAGR exceeding 5% to 2033, driven by urbanization and population growth. Learn about key players, market segments (single-family, multi-family), and regional trends in Toronto, Vancouver, Calgary, and more. Recent developments include: September 2022: PCL Construction was awarded Kindred Resort - Keystone's first major development in River Run in 20 years. This USD 184 million, 321,000 square-foot mixed-use development, designed by OZ Architecture, will consist of 95 luxury ski-in/ski-out condominiums and a 107-key full-service hotel, all just steps away from the River Run Gondola at Keystone Ski Resort. The development also includes 25,000 square feet of commercial space for restaurants, retail, and amenities including a pool, spa, fitness center, ski club, and event space. Preliminary construction activities are underway to relocate utilities. Construction will continue year-round and is scheduled for completion in June 2025., January 2023: PCL Construction broke ground on Schnitzer West Living's luxury residential community, the Avant, in the Denver Tech Center. The Avant is situated on the corner of Greenwood Plaza Boulevard and East Caley Avenue. The property includes 337 highly curated for-rent residences, complete with modern amenities and a two-level indoor structured parking garage with a capacity for roughly 450 cars. Residents will enjoy commanding views of the surrounding mountains year-round from their homes and the property's outdoor pool and hot tub. The property is Schnitzer West's first multifamily residential building, bringing luxurious living experiences to Denver's Tech Center.. Notable trends are: Drop in Building Permits Due to High Interest Rates.

Discover the booming North American modular housing market! This comprehensive analysis reveals a $24.97B industry projected to grow at 6.99% CAGR through 2033, driven by affordable housing needs, sustainability, and innovative construction. Explore market trends, key players (Clayton Homes, Skyline Corp.), and regional insights. Recent developments include: April 2022: Clayton Homes, a national builder of both off-site and on-site homes, showed off its first single-section CrossMod home at the Manufactured Housing Institute's Congress & Expo. This gives another group of homebuyers and locations a new affordable housing option., January 2022: Volumetric Building Companies (VBC), one of the largest multifamily volumetric modular and components businesses in the United States, announced a merger with Polcom Group (Polcom), a premium steel modular building and custom furniture manufacturing conglomerate for the hospitality market. By combining VBC's innovative wood construction technology with Polcom's advanced steel modular system, the deal will change the way people build things. The Polycom merger comes right after VBC bought the assets of Katerra Inc., which included its offices and state-of-the-art manufacturing facility in Tracy, CA.. Notable trends are: Increase in Prefabricated Housing Market in North America.

Discover the latest insights into Canada's booming residential real estate market. Our analysis reveals a projected market size of $1.2 trillion CAD in 2025, with a 3.20% CAGR through 2033. Learn about key drivers, trends, and top companies shaping this dynamic sector. Explore regional breakdowns and investment opportunities. Key drivers for this market are: Population Growth is the main driving factor, Government Initiatives and Regulatory Aspects for the Residential Real Estate Sector. Potential restraints include: Housing Supply Shortage, Interest rates and Financing. Notable trends are: Immigration Policies are Driving the Market.

Canada Manufactured Homes Market size was valued at USD 2.08 Billion in the year 2024, and it is expected to reach USD 2.85 Billion in 2032, at a CAGR of 4% over the forecast period of 2026 to 2032.Key Market Drivers:Housing Affordability Crisis: The ongoing housing affordability crisis is the primary driver of Canada's manufactured home market. According to the Canadian Real Estate Association (CREA), the national average home price reached $716,100 in January 2024, up 7.6% year on year. According to the Canadian Manufactured Housing Institute (CMHI), manufactured homes are significantly less expensive than traditional site-built homes, with prices ranging from 30 to 50% lower.Urbanization and Population Growth: Urbanization and population increase in Canada are pushing the manufactured house market by growing demand for low-cost, high-quality housing options. Rising land costs and housing shortages make manufactured homes an affordable option, promoting market growth.

Homebuilders have endured considerable volatility. Immigration into Canada has led to unprecedented population growth, exacerbating an existing housing crisis. New housing starts haven't kept up with the population growth, making homebuilders more critical than ever to meet housing needs. Home shortages and changes in buying behaviour supported homebuilders during the COVID-19 pandemic early in the recent five year period. Still, the pandemic's disruption to global supply chains didn't spare contractors, with equipment and material costs reaching unprecedented highs. Interest rate hikes in 2022 and 2023 slowed new relevant housing construction, spurring apartment building construction as consumers increasingly sought out renting. Also, the First Time Homebuyer Incentive, which seemed like a potential boon to homebuilders, largely lacked success and was repealed. Industry-wide revenue has been declining at a CAGR of 0.1% over the past five years – totaling an estimated $30.3 billion in 2025 – when revenue will climb an estimated 1.6%. The Bank of Canada raising rates in 2022 and 2023 led to a massive slowdown for homebuilders, even as the Canadian government tried to ramp up the number of housing units constructed. Higher interest rates make developers cautious about new projects, drive up construction costs for builders and push potential homebuyers out of the market. The Bank of Canada has decreased rates in 2024 and 2025 for the first time since 2022, potentially providing a boost to homebuilders. Labour shortages for home builders have hiked wage costs and hindered profit. Homebuilders will enjoy solid growth over the next five years. Interest rate cuts and low housing supply will spur downstream homebuying activity. Still, labour shortages and material costs will continue to strain contractors' capacity. These challenges will impact the broader construction sector, incentivizing federal and provincial governments to fund workforce development and tech adoption programs. Government initiatives like the First-Time Home Buyers’ Tax Credit, the First Home Savings Account (FHSA) and the Home Buyers Plan (HBP) will support homebuilding. Homebuilders' revenue is forecast to expand at a CAGR of 1.7% to $33.0 billion through the end of 2030.

A transparent dataset and documentation bundle for analysing government-led Pre-Approved Housing Design Catalogues (PHDCs) across the United States, Australia, and Canada. Prepared to accompany the Monash/GBPN manuscript on PHDC design, engagement, practical efficacy, and governance implications.

Research Abstract:

The global housing affordability and availability crisis has renewed interest in Pre-Approved Housing Design Catalogues (PHDC), a policy tool originally introduced after World War I to accelerate residential construction. By reducing bureaucratic hurdles, permitting times, and design costs, PHDC aims to address housing shortages and streamline development. In recent years, jurisdictions in the United States, Canada, and Australia have implemented or piloted PHDC programs. However, despite increasing adoption, scholarly analysis remains limited, with much of the discourse confined to grey literature and anecdotal evidence. This study bridges the knowledge gap through a literature review and analysis of 16 case studies, examining PHDC’s historical origins, contemporary applications, and key challenges. It critically evaluates perceived benefits, such as cost savings and expedited permitting, against real-world limitations, including low engagement rates, limited design flexibility, and uncertain long-term affordability impacts. Findings indicate that while PHDC offers administrative efficiencies, it has not demonstrated transformational potential in solving housing affordability challenges. Regulatory frictions, market competitiveness, and the lack of financial incentives remain barriers to adoption. This study cautions against overreliance on PHDC and concludes with research and policy recommendations, emphasising broader housing strategies, improved permitting processes, and alignment with market needs to enhance PHDC’s effectiveness.

In 2024, there were more new home construction starts in Canada than in the previous year. Construction starts peaked in 2021, when there were ******* housing units whose construction started that year. Despite the restrictions imposed in Canada during the COVID-19 pandemic, the industry managed to continue operating, with increases in the number of housing starts in 2020 and 2021. How many homes are under development? In 2023, the number of housing units that were under construction in Canada was approximately ******** units. After a period of stagnation until 2016, the housing industry witnessed a significant surge in construction activity. Numerous factors are attributed to this rise, including the heightened demand for housing, an expanding economy that encouraged investment, and the response to the shortage of housing. How expensive are homes in Canada? In 2024, the average cost of a house in Canada was around ******* Canadian dollars. The average house price had increased that year by ****** Canadian dollars compared in 2024 compared to the previous year. The house price-to-income ratio in Canada increased slightly in the third quarter of 2024.

The COVID-19 pandemic is adding to the ongoing public health crisis related to high rates of opioid overdose and deaths, as well as acute substance use harms. These crises are made worse in communities where there is chronic overcrowding, including a shortage of housing or other shelters.

Over the last year, Statistics Canada (StatCan) and Canada Mortgage and Housing Corporation (CMHC) have collaborated on the implementation of a set of proximity measures to services and amenities. CMHC funded this collaboration to generate data and analytical work in support of the National Housing Strategy. The result of this collaboration is the first nation-wide Proximity Measures Database (PMD). This database is now available as an early release to meet urgent information needs of departments and other stakeholders across Canada who are dealing with the COVID-19 crisis. The current situation involving COVID-19 emphasizes the importance of having timely and accessible information available to the public at all levels of government. Proximity measures developed for this project are relevant to the current situation by providing a wealth of information (at the granular level) in terms of proximity to health facilities, pharmacies and other essential services/amenities that can be used to make rapid informed decisions at different geographical levels. WARNING: This map contains detailed data which makes it heavy to load. To improve loading time, please uncheck the "Proximity measures" group from legend at loading, then load only the desired thematic.

Canadian real estate asset management and consulting firms are encountering a complex operating environment, characterized by a plateauing office market, reduced residential sales and softer industrial demand amid the housing supply crisis and persistent growth in retail. The office vacancy rate in Q2 2025 has remained stable at 17.2%, marking a shift from several years of rapid increases caused by remote work adoption and shifting tenant preferences toward Class A assets. Despite interest rate cuts, home sales have dropped through the first half of 2025, translating into softer fee income and reduced activity for the asset management firms. The retail sector, however, remains robust with steady population growth, robust consumer spending and marked resilience in health, wellness, grocery and restaurant sectors. The industrial real estate space has cooled, with the industrial availability rate rising to 6.2% by Q2 2025 because supply outpaces tenant demand. Booming retail demand provides an attractive environment for asset managers with reliable rental income and high property valuations. However, Canada's housing supply crisis persists, providing opportunities and threats for the real estate industry. Estimates indicate 1.4 - 3.5 million additional homes will be needed by 2030 to restore affordability. Through the end of 2025, revenue will climb at a CAGR of 2.3% to $5.1 billion, including a 1.1% gain in 2025 alone, when profit will reach 24.1%. Real estate asset management and consulting revenue will gain at a CAGR of 1.4% to $5.4 billion through the end of 2030. Growing urbanization, driven by immigration and lifestyle preferences toward urban cores, will fuel competition for prime real estate assets, putting pressure on existing infrastructure and amplifying affordability challenges. The "flight to quality" will continue to accelerate over the next five years, focusing demand on upgraded spaces that enhance workplace experience and talent retention. Meanwhile, expansion in data centers accelerated by the strengthening adoption of cloud services and the expansion of digital infrastructure will provide stable, long-term leases and attractive risk-adjusted returns.

Tiny House Market Outlook

According to our latest research, the tiny house market size reached USD 6.1 billion globally in 2024, demonstrating steady growth fueled by shifting consumer preferences and housing affordability challenges. The market is expected to expand at a robust CAGR of 6.9% from 2025 to 2033, reaching a forecasted value of approximately USD 11.5 billion by 2033. The primary growth driver is the increasing demand for affordable, sustainable, and flexible living solutions, especially among younger demographics and environmentally conscious consumers.

The growth trajectory of the tiny house market is significantly influenced by the rising cost of traditional housing and urbanization trends. As metropolitan areas become denser and real estate prices soar, consumers are increasingly seeking alternative housing options that offer both affordability and flexibility. Tiny houses, with their compact footprints and lower construction and maintenance costs, provide a compelling solution for individuals and families looking to achieve homeownership without the financial burden of conventional homes. Additionally, the rising interest in minimalist lifestyles and the desire to reduce personal carbon footprints have made tiny homes an attractive choice for those prioritizing sustainability.

Another key factor propelling the tiny house market is the increasing prevalence of remote work and digital nomadism. The shift towards flexible work arrangements, accelerated by global events such as the COVID-19 pandemic, has prompted many individuals to reconsider their housing needs. Tiny homes, especially mobile variants, enable a lifestyle that is not tied to a single location, allowing owners to travel or relocate as needed. This flexibility aligns well with the preferences of millennials and Gen Z consumers, who value experiences over material possessions and are more likely to embrace non-traditional living arrangements. Furthermore, advancements in off-grid technologies, such as solar panels and composting toilets, have enhanced the viability of tiny homes in remote or rural areas.

Government initiatives and regulatory reforms are also playing a pivotal role in shaping the tiny house market. In several regions, local authorities are amending zoning laws and building codes to accommodate tiny house developments, recognizing their potential to address affordable housing shortages and promote sustainable urban growth. These regulatory changes are encouraging both individual buyers and developers to invest in tiny house communities, further expanding the market. However, challenges remain in areas where regulations are less favorable, highlighting the importance of continued advocacy and policy innovation to unlock the full potential of the tiny house movement.

From a regional perspective, North America continues to dominate the tiny house market, accounting for the largest share in 2024, followed by Europe and Asia Pacific. The popularity of tiny homes in the United States and Canada can be attributed to high housing costs, a strong DIY culture, and widespread media coverage. In Europe, growing environmental awareness and government incentives for sustainable housing are driving adoption, while in Asia Pacific, rapid urbanization and the need for space-efficient solutions are fueling market growth. Emerging markets in Latin America and the Middle East & Africa are also beginning to show interest, particularly in the context of affordable housing initiatives and tourism-related applications.

Product Type Analysis

The tiny house market is segmented by product type into mobile tiny houses and stationary tiny houses, each catering to distinct consumer preferences and lifestyle needs. Mobile tiny houses, often built on trailers, offer unparalleled flexibility and mobility, making them especially popular among digital nomads, retirees, and adventure seekers. Their ability to be relocated with ease appeals to those who value freedom of movement and the opportunity to

Making sure that “everyone counts” in Point-in-Time (PIT) Homelessness Counts is a key resource to address homelessness and support efforts to ensure that all Saskatoon residents have access to safe, affordable, and appropriate housing. Indigenous people continue to be impacted disproportionately and many households face high levels of precariousness and risk of homelessness—a reality that the COVID-19 pandemic has made starkly visible. Despite housing as a human right being recognized by international covenant and the 2019 National Housing Strategy Act, the health crisis has combined with such shadow epidemics as isolation, technology deficits, and food insecurity to aggravate vulnerabilities and leave many with nowhere safe to go and the heightened visibility of street homelessness. PIT Homelessness Counts gather data to help understand factors in homelessness, to give a human face to the statistics, and to help design and implement effective program and policy investments and interventions. The fifth Saskatoon PIT Homelessness Count—and second as part of Employment and Social Development Canada (ESDC)’s Reaching Home national coordinated PIT Count— including an indoor and outdoor enumeration, streets needs assessment, and public perception survey, was held in Saskatoon on April 28, 2022.