The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
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 1/2 percent above the housing stock level consistent with
fundamentals as of 2013.