Insights from SiteSummit 2026: Navigating the Canadian Housing Market

📅 2 weeks ago

SiteSummit 2026 tackled pressing issues in the Canadian housing sector, from market corrections to the potential of mass timber construction, highlighting the complexities in policy and development.

The recent SiteSummit 2026, organized by SiteNews and EllisDon, embraced a 'Summer School' theme, enriching its Toronto program with a diverse range of sessions focusing on critical topics such as the adoption of artificial intelligence and modular construction. Among the most significant discussions were three sessions that addressed housing from various perspectives: a market update, an in-depth exploration of materials with a focus on mass timber, and a policy panel examining the necessary actions to facilitate progress in the housing sector.
Industry experts, including a market analyst, a real estate broker, several architects and engineers, along with a panel of housing executives, provided insights into the current state of the housing market, identifying where corrections are occurring, what new tools the industry is seeking, and where policy discussions are encountering obstacles.
During the session titled 'Housing 101: State Of The Housing Market', Shaun Hildebrand from Urbanation detailed the extent of the correction within the Greater Toronto Area (GTA) condo market. He reported that new construction launches have nearly ceased, with existing inventory numbers reaching the thousands and default rates projected to rise to between 15% and 20% by 2026. However, Hildebrand also noted signs of stabilization in the resale market, citing a reduction in listings, a tightening supply in downtown areas, and the removal of the Harmonized Sales Tax (HST) helping to close the price gap between new and resale properties.
Taking a broader view, Daniel Foch of Valery.ca provided a national perspective, indicating that the current correction is on par with historical lows dating back to the 1960s. He pointed out a significant divergence between Ontario and British Columbia compared to provinces like Alberta, where rental construction and population migration continue to spur growth. Foch concluded that while housing prices have mostly adjusted, it is wages that need to catch up to support future stability in the market.
The conversation shifted to mass timber during the 'Mass Timber 101: Mass Timber's Killer Applications' session, featuring structural engineer David Moses and architect Chris McQuillan with moderator Joseph Ogilvie. The panel discussed the rising popularity of mass timber in construction, driven by factors such as sustainability, labor shortages, and unstable steel supply chains. Interestingly, they identified healthcare as an unexpected sector where mass timber is gaining traction. Despite its advantages, the panel acknowledged challenges such as moisture management and a financing model that does not favor developers required to make upfront payments. They agreed that the cultural implications of mass timber, particularly its association with digital design and sustainability, could attract the next generation of talent to the construction industry.
The policy landscape was a focal point in the session 'Housing 201: Housing For Life: Moving Beyond Investor Units', featuring Richard Lyall from RESCON, Mwarigha from WoodGreen, and Hugh Clark from the City of Toronto. This panel debated whether initiatives like Build Canada Homes represent genuine progress or merely superficial adjustments. The consensus suggested that deeper issues—such as development charges, fragmented approval processes, and decades of underinvestment in rental housing—must be addressed, as no single federal program can resolve these systemic challenges. The recent federal intervention in a stalled project in Vancouver was also discussed, with panelists expressing mixed opinions about its effectiveness, viewing it as either a necessary course correction or a mere symbolic act.
In summary, the three sessions highlighted distinct yet interconnected aspects of the housing conversation in Canada, indicating that the discourse remains ongoing and complex. As the summit concluded, attendees were reminded of the multifaceted nature of the housing crisis and the need for a collaborative approach to finding solutions.

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