A housing agency said US tariffs could keep more Canadian lumber at home, potentially supporting ~4K extra homes each year through domestic homebuilding.
Its analysis estimated more consistent use of Canadian wood products could lift annual ground-oriented housing starts by ~4%, adding supply where wood-based building is common.
Building costs for those homes could fall by as much as ~17% in some Canadian markets, with savings varying by location and housing type.
Detached homes and townhouses stood to benefit most because they use more wood products than high-rise apartment buildings, improving project economics for builders.
The opportunity could help housing supply and forestry, but lumber prices address only part of builders' challenges, alongside elevated financing, labour, and other barriers.

Canada's 6-mo housing starts trend stayed flat in Late-Q3 at 250.4K units, while total monthly SAAR for all areas ↑3% MoM to 248.9K.
In centres above 10K population, actual Late-Q3 starts totaled 20K units, ↓11% yearly, while the Early-Q1-to-Late-Q3 tally for 2026 reached 171K, ↓4%.
Construction activity stayed steady in larger centres: units under construction were flat MoM at 371.6K, completions ↓~1% to 17.4K, and unstarted permits ↑~1%.
An economist warned Canada's key risk is not building enough during softer market conditions, saying sustained affordability gains since 2023 depend on higher construction levels.
Next national housing-starts data arrives November 17, while rural starts were estimated at 18.1K units in Late-Q3, adding context to Canada's supply picture.

Canada’s annualized housing-start pace reached 248.9K units in Late-Q3, ↑~3% from Mid-Q3’s 242.2K, signaling slightly stronger construction momentum across Canada recently overall.
Actual monthly starts in Canadian communities above 10K people hit 20K units in Late-Q3, ↓~11% yearly from 22.4K a year earlier overall.
Rural housing starts were estimated at 18.1K annualized units, while the six-mo moving avg. of starts reached 250.4K, ↑<1% nationwide overall recently.
An economist said Canada still faced a long-term housing supply gap, keeping construction levels central to whether affordability improvements since 2023 can last.
The key takeaway for Canada: unless homebuilding rises further, the affordability progress seen since 2023 will be difficult to sustain over the longer term.

Earlier this year, Canada’s ownership-cost burden reached ~53% of median household income by Late-Q2, improving by ~0.5 points from Late-Q1 nationwide, a slight easing.
Ownership costs stayed mostly stable through Late-Q2, showing affordability improved only modestly and suggesting the national shift came from steady pricing, not a rapid reset.
Within Canada, Vancouver and Toronto led housing-cost declines, while Regina, Saskatoon, and Winnipeg posted modest price gains, showing affordability shifts varied by market.
Calgary and Edmonton were largely flat quarterly, with slight cost easing, yet both stayed above long-term affordability norms, underscoring lingering pressure for local buyers.
Edmonton remained among Canada’s most affordable major markets, but even there buyers faced affordability hurdles that could keep some from entering the market.

In Mid-Q3, Canada home sales slipped ~1% MoM and ~7% yearly, as economic uncertainty and higher mortgage costs weighed on market activity.
Canada’s price index was flat MoM in Mid-Q3 and ↓~3% yearly, while newly listed properties rebounded ~3% after three straight monthly declines.
The sales-to-new listings ratio eased to ~49% from ~51% in Early-Q3, moving further below its long-term avg. near 55% across Canada overall.
An economist said rising inflation risks and doubts about recent growth changed the broader backdrop, while higher bond yields pushed fixed mortgage rates upward.
At that time, markets priced in a ~60% chance of an Early-Q4 rate hike, with >1 percentage point of tightening by 2027.

A bank economist sharply cut Canada’s resale outlook, shifting from a much smaller forecast decline earlier in 2026 as bond yields climbed.
National home sales are projected to ↓~5% this year, while avg. prices are expected to finish flat before a modest 2027 gain.
The outlook assumed the central bank would stay on hold near 2%, but modest next-year gains depended on bond yields easing in current Q4.
Support for a recovery also hinged on pent-up demand and a slowly improving job market, though the labour outlook was trimmed after trade tensions.
Even under the baseline, next-year sales were expected to remain well below pre-pandemic levels, showing how elevated yields could extend Canada’s slower reset.

Halloween falls on October 31 because the ancient Gaelic festival of Samhain, considered the earliest known root of Halloween, occurred on this day.
In the eighth century, Pope Gregory III designated November 1 as a time to praise all saints.
Soon, All Saints' Day incorporated some traditions of Samhain and the evening before was known as All Hallows Eve, and later Halloween.
Over time, Halloween evolved into a day of activities like trick-or-treating, carving jack-o-lanterns, festive gatherings, donning costumes and eating treats.
Today’s the day to eat candies and sweets to your heart’s content! Happy Halloween!

A bank economist cut Canada's housing forecast, expecting home sales to ↓~5% in 2026 as higher government bond yields keep fixed mortgage costs elevated.
Avg. Canadian home prices are projected to stay roughly flat in 2026, then edge up by <2% in 2027 rather than rebound sharply.
The revised outlook kept 5-yr Canada bond yields near the mid-3% range through Late-Q4, with a gradual decline expected across 2027 overall.
Ontario and British Columbia were expected to see sales improve in 2027, while Alberta was expected to lead Canadian price growth overall.
The modest recovery depended on bond yields starting to ease in Late-Q4, alongside the central bank holding policy steady through 2027 overall.