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.

This table contains data described by the following dimensions (Not all combinations are available): Geography (13 items: Canada; Newfoundland and Labrador; Prince Edward Island; Atlantic provinces ...), Housing estimates (3 items: Housing starts; Housing under construction; Housing completions ...), Type of unit (6 items: Total units; Multiples; Single-detached; Semi-detached ...), Seasonal adjustment (2 items: Unadjusted; Seasonally adjusted at annual rates ...).

Housing Starts in Canada decreased to 279.50 Thousand units in May from 280.20 Thousand units in April of 2025. This dataset provides the latest reported value for - Canada Housing Starts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

After surging in 2021, sales activity in the Canadian housing market slowed down in the next two years. According to the forecast, the number of home sales in 2026 is expected to reach almost 556,660. The Canadian residential housing market is going through a period of change because the skyrocketing home prices are being tempered by various governmental interventions. One of the measures is such as a two-year ban on foreign purchases. Additionally, the government introduced a tax on vacant foreign-owned housing and a tax on assignment sales - resales of homes that have not been constructed or lived in before the time of the sale.

Housing under construction in Canada 2006-2023 Published by Fernando de Querol Cumbrera, Jun 7, 2024 In 2023, there were approximately 354,730 housing units under construction in population centers of over 10,000 people in Canada. Those numbers for 2023 were lower than the figures a year earlier. However, during most of the period considered the number of homes under construction generally increased, as there were less than 145,000 homes under construction in 2009. Development of residential construction in Canada The number of housing starts overall has developed similarly, but it was somewhat more volatile. Generally, the cities with the largest populations, like Toronto and Montreal experience the highest number of construction starts. The construction industry remains vital to Canada’s economy, providing employment to people across the country and billions in economic output. Types of housing Although many Canadians were living in single-detached houses, their cities have started to embrace multifamily starts quite early and are moving away from single family residential construction. The younger demographics in Canada, including new Canadians and young families are often striving towards homeownership but are also aware of climate change. High energy performance housing often comes with a higher price tag, but efforts are being made nationally in order to enshrine affordability as a core objective within national building codes.

Homebuilders have endured considerable volatility. Immigration into Canada has translated into unprecedented population growth, driving a deepening 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. 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 $29.7 billion in 2025 – when revenue will climb an estimated 2.7%. 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. Higher interest rates make developers cautious about new projects, drive up construction costs for builders and push potential home buyers 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. Such challenges will be complex for the broader construction sector, allowing federal and provincial governments to introduce programs focusing on workforce development and tech adoption. 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 2.0% to $32.8 billion through the end of 2030.

The number of housing starts in British Columbia, a province in the east of Canada, have fluctuated significantly during the last decades. While 50,490 home constructions started in 2023 in this Canadian province, the number of residential construction starts in 2009 was just 16,000 units. In comparison, the number of housing starts in Ontario tends to be much higher than in British Columbia.

Residential construction starts in Nova Scotia had increased two years in a row, reaching nearly 6,000 units in 2021, dut decreased to 5,714 in 2022. The number of new housing starts has almost doubled since 2014, when 3,056 homes constructions started. The number of housing starts in British Columbia has also followed similar trends in the past years.

The share of the Canadian population living in prefabricated houses has remained stable at approximately 1% over the past three decades, indicating consistent demand driven by stable consumer preferences and government policies. However, complex regulations, which vary between provinces and territories, have made mass standardization difficult. Additionally, challenges in appraising the value of prefabricated homes result in stricter lending criteria, further hindering adoption. Logistical issues posed by Canada's large geographical size also impede the widespread use of prefabricated homes, as transporting modules over long distances can be costly. The construction industry's existing infrastructure, heavily geared towards traditional methods, further complicates the transition to prefabrication without considerable investment. Despite these hurdles, technological advancements like Building Information Modeling (BIM), automation and robotics have improved efficiency and precision and reduced waste in prefabricated construction. Increased consumer interest in sustainable construction practices has also positively impacted the industry, as prefabricated homes generally produce less waste and use materials more efficiently. Overall, revenue in the prefabricated home manufacturing industry is estimated to climb at a CAGR of 5.4% to reach $3.8 billion in 2024, which includes a 1.7% increase in 2024 alone. The growth in the broader residential construction industry, driven by expected declines in mortgage rates and the Canadian government's ambitious plan to unlock 3.87 million new homes by 2031, is poised to positively impact demand for prefabricated houses. Innovations in customization, including Building Information Modeling (BIM) and 3D printing, will further enhance the appeal of prefabricated homes by allowing for personalized designs and energy-efficient features. Despite these advancements, Canada's share of the population living in prefabricated homes is expected to remain relatively flat, unlike countries such as Finland, Norway, Sweden, Japan and Germany, which have substantially higher market penetration. Canada's challenges include larger house sizes, transportation costs and a still-developing mass timber industry. The industry's outlook assumes stable input costs, though fluctuations in commodity prices and fuel costs could impact profitability. Industry revenue is expected to climb at a CAGR of 2.5% through 2029, reaching $4.3 billion by the end of the outlook period.

Housing stock in units is an economic estimate of the number of housing units in Canada, the provinces and territories by institutional sector, dwelling occupation, dwelling type, and tenure type. These data are used to estimate gross domestic product by income and expenditure. The units are benchmarked to dwelling data from the census at the national, provincial and territorial levels. Dwelling type and tenure type are also aligned with census data.

This data compares how many new homes have been started towards municipal housing targets for 2031. Data is shown only for municipalities assigned housing targets by the provincial government. Please note a review of data for the 2023 year was undertaken in Summer 2024. Statistics reflect post-review adjustments and may not align with CMHC data as published in its 2023 and 2024 surveys (Starts and Completions Survey). Over a two-year period, however, statistics across both organizations will align. Learn more about Ontario’s progress towards building at least 1.5 million homes

Ontario's construction costs 2023, by building type Published by Fernando de Querol Cumbrera, Dec 10, 2024 Ambulatory healthcare was the type of building with the highest construction costs in Ontario (Canada) in 2023. The cost of that type of building ranged from 7,110 to 8,750 Canadian dollars per square meter. Townhouses with mid-end specifications were, along with warehouses, among the cheapest buildings to construct, even though the townhouse sale price in Canada was much higher in 2023 than in a decade earlier. On the other side of the residential spectrum, the construction cost of high-rise buildings with mid-end specifications could reach up to 5,370 Canadian dollars per square meter. The housing sector in Ontario The fast population growth in Toronto, the main city in Ontario, has put pressure on its housing market. From 2001 to 2022, the number of people living in Canada’s largest city increased by over 37 percent. During the past years, house prices in Ontario rose at a similarly fast pace. Combined, these elements signal a strong demand for homes in Toronto and Ontario as a whole. The construction sector has responded to this trend: In 2022, most housing starts in Canada took place in the province of Ontario. That same year, EllisDon Corporation, with headquarters in Mississauga (Ontario), was the second-largest contractor in Canada. One of its largest residential/mixed-use projects under development is the 489-539 King St. West Development, in Toronto. Construction cost in North America Building construction costs in Quebec, the second most populous province in Canada after Ontario, had a similar cost range: Ambulatory healthcare buildings were the most expensive, and warehouses were the cheapest to build. However, enclosed malls and higher education buildings were significantly more expensive in Quebec than in Ontario. Across the border, the cities with the highest residential construction costs in the U.S. were San Francisco for multi-family housing, and New York City for single-family housing. Meanwhile, Los Angeles, San Francisco, and New York had the highest hotel construction costs in the U.S.

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Tiny Homes Market Size 2025-2029

The tiny homes market size is forecast to increase by USD 3.71 billion, at a CAGR of 4.2% between 2024 and 2029.

The market is driven by the affordability of this housing solution for a significant portion of the population. The compact and cost-effective nature of tiny homes caters to the increasing demand for budget-friendly housing options. Additionally, the trend toward personalized living spaces is fueling the market's growth, as consumers seek to express their unique styles and preferences through customized tiny homes. However, challenges persist in the form of limited demand from developing economies due to their focus on more traditional and affordable housing construction solutions.
Furthermore, regulatory hurdles and zoning restrictions in some areas may pose obstacles to market expansion. Companies aiming to capitalize on the opportunities in the market must navigate these challenges by collaborating with local governments and offering flexible, customizable solutions to cater to diverse consumer needs.

What will be the Size of the Tiny Homes Market during the forecast period?

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The market continues to evolve, reflecting the shifting dynamics of housing trends and consumer preferences. Energy efficiency and sustainability remain key drivers, with green building practices and passive solar design gaining traction. Accessibility features and building codes are increasingly important considerations, as is the integration of smart home technology and appliances. Foundation types and site preparation require careful planning, while wind turbines and electrical systems enable off-grid living. Interior finishes and design customization offer opportunities for creativity, while zoning laws and permitting regulations shape the landscape of tiny home communities. Water conservation and greywater recycling are essential for sustainable living, and resale value is a growing concern for investors.

Smart meters, battery storage, and home automation systems enhance energy management and convenience. Housing affordability and financing options remain critical factors, with modular construction and prefabricated structures offering cost-effective solutions. Construction techniques and transportation logistics continue to advance, enabling greater customization and flexibility. The market's ongoing evolution reflects the diverse needs and aspirations of consumers seeking efficient, eco-friendly, and affordable housing solutions.

How is this Tiny Homes Industry segmented?

The tiny homes industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Mobile tiny homes
  Stationary tiny homes


Application

  Home use
  Commercial use


Area

  Less Than 130 Sq. Ft.
  130-500 Sq. Ft.
  More Than 500 Sq. Ft.
  Less Than 130 Sq. Ft.
  130-500 Sq. Ft.
  More Than 500 Sq. Ft.


Price Range

  Budget
  Mid-range
  Premium


Material

  Wood
  Metal
  Recycled


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    Spain
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Product Insights

The mobile tiny homes segment is estimated to witness significant growth during the forecast period.

The market for tiny homes, characterized by energy efficiency, mobile design, and small footprints, has experienced significant growth in recent years. These homes, built with green building practices and passive solar design, are often transported on wheels or trucks to their final site. The affordability of tiny homes, particularly in the context of rising conventional housing prices, has made them an attractive option for both young buyers and retirees seeking to optimize savings. The trend toward off-grid living and sustainable building materials further bolsters the market's appeal. Building codes, permitting and regulations, and zoning laws are key considerations in the tiny home market.

Foundation types, site preparation, and transportation logistics are essential elements of the construction process. Wind turbines, solar panels, and smart meters contribute to the homes' energy efficiency and self-sufficiency. Interior design, appliance integration, and storage solutions are crucial aspects of tiny home living. Accessibility features, such as wheelchair ramps and wider doorways, are increasingly important for ensuring compliance with ADA standards. Smart home technology, community development, and customer servic

Building Permits in Canada decreased to 11704900 CAD Thousand in April from 12880313 CAD Thousand in March of 2025. This dataset provides - Canada Building Permits - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Investment pouring into residential housing construction has benefited apartment and condominium construction activity in Canada in recent years. Immigration into Canada has spurred record population growth, fueling a deepening housing crisis. In major urban centres, demand for housing units has exceeded the supply for years, inciting investment in retrofits and multistory apartment dwellings. Apartment contractors have been vital in filling the gaps in housing, with a low-interest environment and chronically low vacancy rates enticing investors. The imbalance between housing supply and demand kept investors bullish on apartments through COVID-19 pandemic uncertainty, supporting growth. Still, the pandemic's disruption to global supply chains didn't spare contractors, with equipment and material costs reaching unprecedented highs. Particularly through 2021 and 2022, materials price and wage inflation pushed up contractors rates, contributing to industry revenue growth. While the year following saw slower building construction price inflation, high demand has kept the price level from falling. In all, industry-wide revenue has been rising at an expected CAGR of 4.2% over the past five years, totaling an estimated $62.3 billion in 2025, when revenue will rise an expected 2.6%. Beginning in 2022, the Bank of Canada steadily raised or maintained interest rates to combat inflation. Higher interest rates made developers more hesitant to invest in projects, driving up costs for builders and impeding profit. In 2024, however, the Bank of Canada began cutting interest rates, continuing the policy into 2025. Contractors will navigate a challenging landscape over the coming years. While interest rates will continue to fall, they will not reach pandemic lows. Labour shortages and elevated costs will also strain contractors' capacity. These challenges will face the broader construction sector, pushing federal and provincial governments to introduce infrastructure and workforce development programs. Over the next five years, apartment and condominium construction revenue is expected to expand at a CAGR of 1.9% to reach $68.4 billion in 2030.

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Residential Real Estate Market Size 2025-2029

The residential real estate market size is forecast to increase by USD 485.2 billion at a CAGR of 4.5% between 2024 and 2029.

The market is experiencing significant growth, fueled by increasing marketing initiatives that attract potential buyers and tenants. This trend is driven by the rising demand for housing solutions that cater to the evolving needs of consumers, particularly in urban areas. However, the market's growth trajectory is not without challenges. Regulatory uncertainty looms large, with changing policies and regulations posing a significant threat to market stability. Notably, innovative smart home technologies, such as voice-activated assistants and energy-efficient appliances, are gaining traction, offering enhanced convenience and sustainability for homeowners.
As such, companies seeking to capitalize on the opportunities presented by the growing the market must navigate these challenges with agility and foresight. The residential construction industry's expansion is driven by urbanization and the rising standard of living in emerging economies, including India, China, Thailand, Malaysia, and Indonesia. By staying abreast of regulatory changes and implementing innovative marketing strategies, they can effectively meet the evolving needs of consumers and maintain a competitive edge. These regulatory shifts can impact everything from property prices to financing options, making it crucial for market players to stay informed and adapt quickly.

What will be the Size of the Residential Real Estate Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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In the dynamic housing market analysis, small flats continue to be a popular choice for both investors and first-time homebuyers, driven by affordability and urban growth. International investment in housing projects, including apartments and condominiums, remains strong, offering attractive investment returns. Real estate syndication and property management software facilitate efficient property ownership and management. Real estate loans, property insurance, and urban planning are essential components of the housing market, ensuring the development of affordable housing and addressing the needs of the middle class and upper middle class. Property disputes, property tax assessments, and real estate litigation are ongoing challenges, requiring careful attention from stakeholders.
Property search engines streamline the process of finding the perfect property, from studio apartments to luxury homes. Real estate auctions, land banking, and nano apartments are innovative solutions in the market, while property flipping and short sales provide opportunities for savvy investors. Urban growth and community development are key trends, with a focus on sustainable, planned cities and the integration of technology, such as real estate blockchain, into the industry. Developers secure building permits, review inspection reports, and manage escrow accounts during real estate transactions. Key services include contract negotiation, dispute resolution, and tailored investment strategies for portfolio management. Financial aspects cover tax implications, estate planning, retirement planning, taxdeferred exchanges, capital gains, tax deductions, and maintaining positive cash flow for sustained returns.

How is this Residential Real Estate Industry segmented?

The residential real estate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Mode Of Booking

  Sales
  Rental or lease


Type

  Apartments and condominiums
  Landed houses and villas


Location

  Urban
  Suburban
  Rural


End-user

  Mid-range housing
  Affordable housing
  Luxury housing


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    UK


  APAC

    Australia
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Mode Of Booking Insights

The sales segment is estimated to witness significant growth during the forecast period. The sales segment dominates the global residential real estate market and will continue to dominate during the forecast period. The sales segment includes the sale of any property that is majorly used for residential purposes, such as single-family homes, condos, cooperatives, duplexes, townhouses, and multifamily residences. With the growing population and urbanization, the demand for homes is also increasing, which is the major factor driving the growth of the sales segment. Moreover, real estate firms work with developers to sel

Graph and download economic data for Real Residential Property Prices for Canada (QCAR628BIS) from Q1 1970 to Q1 2025 about Canada, residential, HPI, housing, real, price index, indexes, and price.

Data on resident owners who are persons occupying one of their residential properties: sex, age, total income, the type and the assessment value of the owner-occupied property, as well as the number and the total assessment value of residential properties owned.

New housing price index (NHPI). Monthly data are available from January 1981. The table presents data for the most recent reference period and the last four periods. The base period for the index is (201612=100).

Housing Index in Canada decreased to 123.70 points in May from 124 points in April of 2025. This dataset provides - Canada New Housing Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.