Strong equity gains over the past 30 years have left few regretting the leap to home ownership, but obstacles are dimming the dream for future generations, as home-ownership rates decline nationally and in major markets.

REMAX examined nine major Canadian urban centres over a 30-year period and found population growth, coupled with policy levers and market events, have long underpinned the Canadian housing market, creating periods of extended growth and contractions in the country’s largest cities.

Barriers to Home Ownership

  • Affordability: Affordability, stagnant incomes, supply challenges and demographic shifts constraining young buyers
  • Population: Accelerated population growth outpaces housing supply during pandemic years
  • Supply: Expanding existing supply in Canadian housing
  • Policy Levers: Taxation, interest rates and stress test

National Insights

Canada has placed among the top countries for home ownership for decades, and although the country’s position has softened in recent years, Canada still boasts a home-ownership rate of 66 per cent, according to Statistics Canada’s 2021 Census. Certain CMAs continue to outperform the national home-ownership average, including Calgary (70.5 per cent), St. John’s (69.4 per cent), Edmonton (68.7 per cent) and Saskatoon (68.7 per cent).

Regional Snapshot

Greater Vancouver Area

Edmonton

Calgary

Saskatoon

Winnipeg

Ottawa

Greater Toronto Area

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