CMHC Projections Highlight Opportunities to Boost Housing Development

Canada faces a long-term housing supply gap of 187,000 to 238,000 homes annually over the next decade, needing 417,000 to 469,000 new homes each year to restore pre-pandemic affordability. Construction is slowing faster than demand, risking affordability. Toronto has the largest shortfall at 42,000 homes annually, followed by Montréal, Vancouver, Edmonton, and Ottawa. Much current construction stems from ongoing projects, not new developments.