Tag: Canada housing supply
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CMHC Says Development Charges Can Add Over $100K to New Homes
New homes in Canada are expensive for many reasons, from land costs and labour shortages to financing, materials, and taxes. But one cost is getting more attention from housing experts: development charges. According to Canada Mortgage and Housing Corporation, development charges can add $40,000 to more than $100,000 to the cost of a new home…
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Canadian Housing Starts Fell 6% in May as Supply Concerns Continue
Canada’s housing construction pulled back in May, raising fresh questions about whether the country is building enough homes to improve affordability. According to Reuters, citing new data from Canada Mortgage and Housing Corporation, Canadian housing starts fell 6% in May from the previous month. The seasonally adjusted annualized rate dropped to 261,377 units, down from…
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Canada Is Building More Homes, But Why Does It Still Feel Impossible to Buy?
Canada’s housing supply is growing, and on the surface, that should be good news for buyers. More homes typically mean more options, more competition among sellers, and eventually more affordable prices. But the reality is more complicated. While new construction is increasing, much of the supply being added to the market is not what most…
Canada Housing Market 