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Canada could fall further behind on housing affordability, government agency warns

CMHC says housing construction is slowing faster than demand despite persistent supply shortages
Apartment vacancy in the Greater Toronto Area has climbed to 5% as a wave of new rental supply reaches the market, while developers pull back on future projects. (Marcus Oleniuk/CoStar)
Apartment vacancy in the Greater Toronto Area has climbed to 5% as a wave of new rental supply reaches the market, while developers pull back on future projects. (Marcus Oleniuk/CoStar)
CoStar News
September 15, 2026 | 10:14 P.M.

Recent improvements in housing affordability could prove short-lived if developers continue to pull back on new construction, according to a new report from Canada Mortgage and Housing Corp.

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