Housing market / Canada
CMHC study examines Canada's long-term housing supply gap
New international research adds context to Canada's housing debate. How buyers in Edmonton, BC and Ontario can read the findings alongside local market information.
At a glance
CMHC's October 20 research compares Canada's housing trajectory with other countries. Its long-term perspective can inform the affordability discussion, but it does not set a purchase budget or predict a neighbourhood's next price move.
Read each indicator with its time period
CMHC reports that Canadian inflation-adjusted house prices rose about 101% from 2005 to 2025. Its international comparison links sustained demand pressure to population growth, incomes and borrowing costs, alongside a limited supply response.
A separate housing-stock comparison shows 426 dwellings per 1,000 people in Canada against an OECD average of 468. That table uses figures from around 2022 or the latest available year, not current 2026 counts.
CMHC cautions that national data definitions and collection methods differ. The research supports broad comparisons, rather than precise country rankings.
What this means for a local buying conversation
Our reading is that a national housing explanation and an individual purchase decision need different evidence. An Edmonton buyer comparing two neighbourhoods still needs local listings, recent comparable sales and property-specific costs. The same distinction applies to a Vancouver condominium or a Toronto townhouse: this study does not establish the value of that home.
Keep the measure separate from the budget. An inflation-adjusted price index tracks change over time; it is not a dollar price, a household income measure or a mortgage quote. A long-term rise also does not establish what prices will do over the months before a planned purchase.
FCAC's pre-approval guidance explains that lenders assess income, assets and debts. Final approval also depends on the property value and down payment. Closing, moving and maintenance costs need space in the spending plan too.
Useful questions to bring to a broker
- Which local sales and property details support the price range I am considering?
- What changes in my budget when taxes, condominium fees, maintenance and closing costs are included?
- Which financing conditions still need to be satisfied for the specific property?
Use our pre-approval page to prepare that conversation, or the first-time buyer guide for the broader steps. For recent market evidence, the September house-price briefing explains a different index and its local results. Each source answers a different question; none guarantees approval or future returns.
Sources & verification
- CMHC — Canada house prices vs peer countries
October 20 research. Figures 1, 2 and 6, their dates, and the international-comparison caveats checked. Accessed October 21, 2026.
- CMHC — Research release announcement
CMHC's own October 20 announcement confirms the publication date and links to the full study. Accessed October 21, 2026.
- FCAC — Getting preapproved for a mortgage
Background on financial assessment, conditional approval and costs beyond the purchase price. Accessed October 21, 2026.
This AI-assisted briefing summarizes public sources and provides general context. It is not a personalized mortgage recommendation or a lender quote. Editorial policy · Report an error.