This graph shows a growing gap between population growth and new home starts in Canada since 1972.
Look at the gap between the population growth and new home starts in 2023 specifically
Fewer homes are being built while our population booms.
What do you think this means for the future of housing affordability?
Population Growth: In 2023, Canada's population grows by over 1M
New Home Starts: is declining due to high interest rates, lowing qualifying power, which lowers pre-sales making developer funding harder to get.
With interest rate drops on the short term horizon, will we see a surge in new home construction to meet demand, or will prices continue to rise?
#CanadianRealEstate #HousingMarket #SupplyAndDemand
