Canada’s planned builder boom is turning into a bust. The Canadian Home Builders Association (CHBA) released the results of its Q2 2024 survey. They found that home builder sentiment remained negative for an 8th consecutive quarter. As a result of weak demand, most plan to significantly reduce the numbers of homes they build—by half on average. 

Canadian Home Builder Sentiment Has Been Negative For 2 Years

Canadian home builder sentiment took a sharp turn in the second quarter. The CHBA’s quarterly survey shows Q2 2024 was the 8th quarter that sentiment remained in negative territory. At the national level, sentiment hasn’t quite returned to the all-time low reached at the end of 2022. However, builders remain less-than-optimistic about the prospects of building.