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.

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.

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.

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.

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.

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.

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.

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.

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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.

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.

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.

Projections that the Canadian federal correctional system would be facing a long-term overcrowding crisis and be forced into housing offenders in shared cells (“double-bunking”) had been substantially reversed in an earlier study.

According to the forecast, the Canadian commercial real estate investment market is recovering from the coronavirus (COVID-19) crisis. In 2023, investment volumes reached **** billion Canadian dollars, an increase of over ** bllion dollars as compared to 2020.

Following the drastic increase directly after the COVID-19 pandemic, the delinquency rate started to gradually decline, falling below *** percent in the second quarter of 2023. In the second half of 2023, the delinquency rate picked up but remained stable throughout 2024. In the second quarter of 2025, **** percent of mortgage loans were delinquent. That was significantly lower than the **** percent during the onset of the COVID-19 pandemic in 2020 or the peak of *** percent during the subprime mortgage crisis of 2007-2010. What does the mortgage delinquency rate tell us? The mortgage delinquency rate is the share of the total number of mortgaged home loans in the U.S. where payment is overdue by 30 days or more. Many borrowers eventually manage to service their loan, though, as indicated by the markedly lower foreclosure rates. Total home mortgage debt in the U.S. stood at almost ** trillion U.S. dollars in 2024. Not all mortgage loans are made equal ‘Subprime’ loans, being targeted at high-risk borrowers and generally coupled with higher interest rates to compensate for the risk. These loans have far higher delinquency rates than conventional loans. Defaulting on such loans was one of the triggers for the 2007-2010 financial crisis, with subprime delinquency rates reaching almost ** percent around this time. These higher delinquency rates translate into higher foreclosure rates, which peaked at just under ** percent of all subprime mortgages in 2011.