This issue briefing examines new and existing Canadian housing markets. Forecasts are presented for housing starts, existing housing prices, and residential investment.
Household formation will jump from an annual average of just under 221,400 in 2012–21 to over 244,000 in 2023–27. This raises several difficult questions. Will there be enough labour to build the required homes and where will the homes be located? Will ongoing housing scarcity boost prices even further out of homebuyers’ reach? And how have rising mortgage rates affected housing markets?
Read this issue briefing to get our full analysis.
High interest rates rattle housing markets
Forecast underpinnings signal concerns
Medium-term housing starts forecast
Residential investment drops