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Housing Market Insider
Insight

Housing Construction vs Population Growth

Canada's population is 41,798,407 persons (Jul 1, 2026), up 0.5% vs one year earlier. Housing starts are running at 248,896 units, annualized (Sep 2026).

Updated 2026-11-12
Supply vs population growth: highest 12 metros (Sep 2026)
Supply vs population growth
MetroValue
Vancouver B.C.440 per 100
Kitchener–Cambridge–Waterloo Ont.210 per 100
Kelowna B.C.142 per 100
Sherbrooke Que.108 per 100
Victoria B.C.104 per 100
Montréal Que.98 per 100
Kingston Ont.78 per 100
Trois-Rivières Que.77 per 100
Québec City Que.74 per 100
Moncton N.B.62 per 100
Saint John N.B.50 per 100
Winnipeg Man.46 per 100

All data for supply vs population growth

The ratio we use

New homes completed per 100 added residents divides 12-month completions by the 12-month increase in population. Households average more than two people, so a ratio around 40–50 roughly keeps pace; that's context, not an official threshold. Where population fell, the ratio isn't shown.

Caveats

Completions include rental, condo and ownership homes. Population estimates for metros are annual (July 1), while completions are monthly, so periods don't line up exactly.

Sources

Informational only, not financial advice. Data as of the release snapshot generated 2026-11-12.