Housing Affordability Could Weaken as Construction Slows: National Housing Agency
Recent gains in housing affordability across Canada could be at risk as new-home construction slows, according to a report from the Canada Mortgage and Housing Corporation. The housing supply gap is largely unchanged year-on-year relative to 2025, but construction is expected to slow faster than demand, which would make it hard to sustain affordability improvements [...]
Recent gains in housing affordability across Canada are at risk due to a slowdown in new-home construction. The Canada Mortgage and Housing Corporation reports that construction is expected to slow faster than demand, making it difficult to sustain affordability improvements achieved since 2023. To achieve pre-pandemic affordability levels by 2036, Canada would need 417,000 to 469,000 housing starts annually.
- New-home construction is slowing in Canada.
- This slowdown may jeopardize recent gains in housing affordability.
- Construction is projected to slow faster than demand.
- Achieving pre-pandemic affordability by 2036 requires significant annual housing starts.
- A housing start is defined as the commencement of construction work on a building.
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