Canada needs to roughly double the rate that new homes are being built in order to restore housing affordability to pre-pandemic levels over the next decade, according to the Canada Mortgage and Housing Corporation (CMHC).
The CMHC released its fall 2026 housing supply report on Thursday, which said Canada needs to build hundreds of thousands more homes annually in order to narrow a significant long-term supply gap, with some major markets struggling more than others.
According to the report, Canada is currently on pace to build about 231,000 homes per year until 2036, but would need to build between 417,000 and 469,000 homes annually in order…
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