Canada’s housing agency says the country made “meaningful” supply gains last year thanks to record rental construction and more “missing middle” type housing, however short-term imbalances remain for several markets. Housing construction rose 6% year-over-year in 2025 to 259,000 units, with activity exceeding the 10-year average across most major markets, according to CMHC’s spring housing supply report. …Rentals drove overall new housing supply in Canada last year, with the number of rental units under construction nearly doubling the 10-year average. …The trend led to increased vacancy rates and slower rent price rises compared with recent years. The report also highlighted the growth of “missing middle” housing — a term referring to gentle-to-medium density types such as accessory suites, multiplexes, row homes, stacked townhouses and low-rise apartments, which have often been under-represented in new supply. …Despite some encouraging trends, particularly for the rental market, housing construction for the home ownership market weakened overall.