It might not seem like it, but Canadian real estate is in the middle of one of the most significant supply booms ever. Canada Mortgage and Housing Corporation (CMHC) data show 2021 housing starts made a big jump. More importantly, the surge of new home construction is beginning to reach the market. New home completions have hit one of the highest levels ever. One Big Six bank even sees it breaking the 1970s high this year.
Canadian New Home Starts Were Up 21% In 2021
Canadian housing starts fell recently, but they’re still much higher than they used to be. The seasonally adjusted annual rate (SAAR) of starts hit 261,000 homes in December. It was down from the SAAR of 268,000 units a month before. Even with that drop, this is much…
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