National Housing Day
As of June 30, 2026, the National Housing Strategy had committed $83.83 billion, up from $69.62 billion a year earlier, and funded 202,695 new homes against a target of up to 240,000. The Canada Mortgage and Housing Corporation (CMHC) now expects construction to slow faster than demand, and the national median homelessness rate reached 30.1 per 10,000 people in June, above that measured in 2025. National Housing Day, on November 22, is the yearly check on that gap. Here’s what the day marks, where the numbers stand and what first-time buyers can use.
As a mortgage lender on a mission to deliver the bright side of mortgages, nesto joins that conversation every year.
Key Takeaways
- National Housing Day is November 22, and it grew out of a 1998 homelessness campaign.
- By June 30, 2026, the National Housing Strategy had committed $83.83 billion to support 202,695 new homes.
- First-time buyers of new homes can claim a federal GST rebate worth up to $50,000.
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What Is National Housing Day?
National Housing Day is a day to raise awareness of housing needs and homelessness in Canada, observed every November 22. It isn’t a statutory holiday, and no single federal proclamation stands behind it.
Its roots are in advocacy. In 1998, the Toronto Disaster Relief Committee declared homelessness a national disaster, and Toronto City Council endorsed the declaration that October. Since 2000, November 22 has been recognised as National Housing Strategy Day, and communities have used it to raise awareness through local events. (Homeless Hub)
In 2026, November 22 falls on a Sunday, so many events run in the days around it.
Where Does Housing Affordability Stand in Canada?
Housing is less affordable than it was before the pandemic, and construction isn’t expected to close the gap soon. CMHC’s Fall 2026 Housing Supply Report estimates that Canada needs roughly 417,000 to 469,000 homes a year to restore pre-pandemic affordability by 2036. It projects a remaining gap of 187,000 to 238,000 homes a year over the next decade, as construction is expected to slow faster than demand. (CMHC)
That range is lower than CMHC’s 2025 estimate of 430,000 to 480,000 starts a year to 2035, and it targets a later year. It doesn’t mean the problem shrank. CMHC warns that the affordability gains since 2023 may be hard to sustain if construction doesn’t keep pace.
The price side looks like this today:
| Measure | Latest figure | Source and period |
|---|---|---|
| Canada composite benchmark home price | $651,400 | Canadian Real Estate Association (CREA), September 2026 |
| Median after-tax income, families and unattached individuals | $75,500 | Statistics Canada, 2024 |
| Benchmark price compared with median income | About 8.6 times | Calculation by nesto, September 2026 benchmark and 2024 income |
| Housing starts, six-month trend | 250,411 units (annual rate) | CMHC, September 2026 |
Statistics Canada reports that median after-tax income was relatively unchanged from 2023 after adjusting for inflation (Statistics Canada). A buyer at the national benchmark needs a household income well above that median, and our breakdown of the income needed to get a mortgage in Canada uses today’s rates. For local numbers, see our state of the housing market in Canada page.
What Has the National Housing Strategy Delivered?
As of June 30, 2026, the National Housing Strategy (NHS) had committed $83.83 billion. That will support 202,695 new homes and the repair of 343,060 more, against a target of up to 240,000 new homes. The NHS launched in 2017 as a 10-year plan and is now a program of more than $115 billion. (Housing, Infrastructure and Communities Canada)
| NHS overall | June 30, 2025 | June 30, 2026 |
|---|---|---|
| Funding committed | $69.62 billion | $83.83 billion |
| New homes created or committed | 170,716 | 202,695 |
| Homes repaired or renewed | 322,335 | 343,060 |
Commitments aren’t completions. The report counts homes that programs have agreed to fund, and a home only helps a household once it’s built and lived in. That’s why the supply numbers above matter as much as the funding totals.
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What Is Build Canada Homes?
Build Canada Homes is the federal agency created to build and finance affordable housing directly, and it now has its own law. Prime Minister Carney launched it on September 14, 2025, and the Build Canada Homes Act (Bill C-20) received Royal Assent on June 18, 2026. (Parliament of Canada)
Budget 2025 proposed $25 billion over five years for housing, including funding for Build Canada Homes. It also cites the Parliamentary Budget Officer’s estimate that 290,000 homes a year are needed to close the supply gap. (Budget 2025)
What Is the First-Time Home Buyer GST Rebate?
The first-time home buyers’ GST/HST rebate refunds the federal GST, or the federal part of the HST, on a new or substantially renovated home. Combined with the existing GST/HST new housing rebate, a first-time buyer can recover 100% of the federal tax on a home valued at $1 million or less. The refund shrinks gradually between $1 million and $1.5 million and ends at $1.5 million, with a maximum of $50,000. (Canada Revenue Agency)
Here’s what that looks like on a new home in a GST province, at the 5% federal rate and the purchase price before tax:
| New home price | GST at 5% | Rebate | GST left to pay |
|---|---|---|---|
| $800,000 | $40,000 | $40,000 | $0 |
| $1,000,000 | $50,000 | $50,000 | $0 |
| $1,250,000 | $62,500 | $25,000 | $37,500 |
| $1,500,000 | $75,000 | $0 | $75,000 |
To qualify, you must be at least 18 and a Canadian citizen or permanent resident. You also can’t have lived in a home you or your spouse owned in the current calendar year or the four before it. The home must be your primary residence, and you must be the first person to live in it. The agreement of purchase and sale must be signed on or after March 20, 2025, and before 2031. Resale homes don’t qualify, and Ontario buyers can also claim a separate provincial rebate on the provincial part of the HST.
Your builder can credit the rebate at closing. If not, you can claim it from the Canada Revenue Agency (or Revenu Québec for a home in Quebec) within two years of the ownership transfer. Our GST, QST and HST new housing rebate page explains how the two rebates fit together, and the first-time home buyer page covers the steps to your first purchase.
How Many People Experience Homelessness in Canada?
Homelessness is higher than a year ago, and it isn’t limited to big cities. The federal National Homelessness Indicators put the national median rate at 29.5 per 10,000 people in April 2026, 30.0 in May and 30.1 in June. Those rates sit above the same months of 2025 (25.5 to 27.9) and 2024 (23.7 to 24.1). (Infrastructure Canada)
The rate counts people who experienced homelessness for at least one day in the month. It’s the midpoint of rates from 45 participating communities, so it isn’t a national head count, and earlier months can be revised as more communities report.
How Is the Housing Squeeze Affecting Renters and Buyers?
When buying is out of reach, demand moves to rentals and pushes rents up. Higher interest rates have made it harder for renters to qualify for a mortgage under the stress test, so more households stay renters for longer. A renter who wants to buy can use our stress test calculator to see what they’d qualify for, and a family helping with a down payment can review the gifted down payment rules.
Homeowners feel it too. Households renewing at higher rates pay more, and landlords with mortgages can pass some of that on where rent control doesn’t limit them.
How Has Homeownership Changed in Canada?
Canada became a country of homeowners after the Second World War, and federal policy helped. The Dominion Housing Act of 1935 was the first national housing law, and the National Housing Act followed in 1938 to make home financing more available. Since 2011, though, the rate has slipped. Canada’s homeownership rate was 69% in 2011 and fell 2.5 percentage points to 66.5% in 2021, and it declined in every province and territory except the Northwest Territories (Statistics Canada). That’s why the price and income table above says more than any single year’s headline.
What Can You Do on National Housing Day?
You can learn what’s happening in your community, support a local housing organization, or ask your elected representatives what they’re doing about supply. Many municipalities and housing groups hold events around November 22. If you’re planning your own move, speak with a nesto mortgage expert about what you can afford.
We're curious…
Frequently Asked Questions (FAQ) About National Housing Day
When is National Housing Day in Canada?
National Housing Day in Canada is observed every year on November 22. In 2026, November 22 falls on a Sunday.
Is homelessness an official national disaster in Canada?
The federal government has not declared homelessness an official national disaster. The Toronto Disaster Relief Committee declared it a national disaster in 1998 as an advocacy campaign, and Toronto City Council and other groups endorsed the declaration.
How many homes does Canada need to build each year?
The Canada Mortgage and Housing Corporation (CMHC) estimates that Canada needs roughly 417,000 to 469,000 homes a year to restore pre-pandemic affordability by 2036. Its 2025 estimate was 430,000 to 480,000 starts a year to 2035.
How much has the National Housing Strategy delivered?
As of June 30, 2026, the National Housing Strategy had committed $83.83 billion to support 202,695 new homes and the repair of 343,060 homes. Its target is up to 240,000 new homes.
Who qualifies for the first-time home buyer GST rebate?
To qualify for the first-time home buyers’ GST/HST rebate, a buyer of a new or substantially renovated home must be at least 18 and a Canadian citizen or permanent resident. The buyer also can’t have lived in a home they or their spouse owned in the current calendar year or the four before it. The rebate refunds the federal tax in full on homes valued at or under $1 million, up to $50,000, and phases out to nothing at $1.5 million.
Does National Housing Day change mortgage rates?
National Housing Day does not change mortgage rates. Mortgage rates follow the Bank of Canada’s policy rate and Government of Canada (GoC) bond yields, while housing policy affects supply and affordability over time. For today’s pricing, see nesto’s mortgage rates.
Final Thoughts
National Housing Day is a yearly check on one question: can people in Canada find a home they can afford? This year’s numbers show more commitments and more money, and a supply gap that still needs more building than is expected. As a national lender, nesto will keep speaking on this issue, because making homes affordable benefits everyone.
Whether you’re buying, renewing or refinancing, nesto mortgage experts can help you work out what fits your unique financial situation.
This article is a general discussion and isn’t legal, tax or real estate advice. Nesto provides mortgage guidance. For advice on your situation, speak with a qualified tax professional or a real estate lawyer.
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