Housing in Canada

Canadian Housing Market Landscape

The COVID-19 pandemic has had a devastating impact on the Canadian economy, exacerbating a concerning trend that's been decades in the making: a lack of housing supply. The Canada Mortgage and Housing Corporation (CMHC) states 3.5 million more homes need to be built by 2030 to support affordability.

Housing is a long-term asset that helps provide safety and sustainability for families. It also helps improve social, psychological, and cultural well-being. It helps create communities.

Canada’s housing challenges have been building over many years. It will require all levels of government to make sustained efforts to make housing more accessible. A comprehensive, national approach would provide opportunities to address supply issues across the entire housing spectrum.

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