Housing in Canada

Canadian Housing Market Landscape

Canada is in a national housing crisis that has been decades in the making. The Canada Mortgage and Housing Corporation (CMHC) states 5.8 million more homes need to be built by 2030 to bring housing affordability into balance. At the current rate of construction, Canada will be short 3.5 million homes. While different studies and research might show varying figures, the undeniable truth is that our country's housing deficit is in the millions.

As our population continues to grow, demand for housing continues to far outpace the rate of new construction and available inventory, resulting in reduced housing supply across the country. This has led to a sustained and historic rise in housing costs and severe affordability challenges, affecting the well-being and quality of life for millions of Canadians.

For more than 39 years, REALTORS® have advocated for policies that encourage access to housing for all Canadians, from emergency shelter to community housing, to rental accommodation and homeownership. Above all, REALTORS® advocate for innovative solutions and policies to increase housing supply across the housing continuum, address current housing challenges, and allow all Canadians to have access to safe, stable and affordable housing options.

CREA’s recommendations reflect REALTOR® priorities which, once combined with thoughtful and integrated planning, have great potential to address the national housing crisis.