Gauging Housing Supply in Canada: A Stock Approach

Author/Editor:

Julien Reynaud

Publication Date:

June 22, 2015

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper estimates Canada’s housing stock to gauge the supply-side component of the recent exuberance in the Canadian housing sector. The paper adds to the current related literature by focusing on housing units and reconstructing housing stock and households series. An error correction model is estimated at the provincial level over the period 1980-2013 to estimate a measure of housing stock desequilibrium. The model predicts an excess supply in the order of ½ percent above the housing stock level consistent with fundamentals as of 2013.

Series:

Working Paper No. 2015/128

Subject:

Financial institutions Housing Housing prices National accounts Prices Stocks

English

Publication Date:

June 22, 2015

ISBN/ISSN:

9781513577784/1018-5941

Stock No:

WPIEA2015128

Pages:

17

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