Joshua McGillivray

• 2026 tournament could add up to C$6.5 billion to Canada's quarterly GDP
• Tourism, hospitality and consumer spending expected to drive the majority of economic boost, contributing up to C$5 billion
• Incremental growth to lift quarterly GDP by approximately 0.1 percentage points in mid‑2026

As millions of fans turn their attention to North America for the world's largest international soccer tournament, an economic boost of up to C$6.5 billion is expected in incremental quarterly GDP for Canada according to a new report from BMO Economics.

Running from June 11 to July 19, the tournament will feature 48 teams and 104 matches across North America, with Toronto and Vancouver hosting games in Canada.

"Mega sporting events of this scale don't transform economies overnight, but they do create a meaningful surge in demand over a concentrated period," said Douglas Porter, Chief Economist, BMO. "In Canada, tourism, accommodation, food services and local entertainment stand to benefit most – particularly in the host cities."

The number of home sales recorded over Canadian MLS® Systems increased 5.5% on a month-over-month basis in May 2026.

“The national sales increase from April to May was broad-based but driven disproportionately by Ontario, suggesting the HST rebate on new builds may have only briefly drawn the attention of buyers away from the existing home market,” said Shaun Cathcart, CREA’s Senior Economist. “While it was just the first month in 2026 to see any meaningful upward momentum in headline demand, under the surface conditions have been improving for some time. Sellers’ and buyers’ expectations are increasingly aligned, as evidenced by tightening sale-to-list price ratios and shorter periods between listing and sale dates. As a result, prices have largely stabilized following some softness earlier in the year.”

May Highlights:

• National home sales jumped 5.5% month-over-month.
• Actual (not seasonally adjusted) monthly activity came in 5.1% below May 2025.
• The number of newly listed properties edged down 1% on a month-over-month basis.
• The MLS® Home Price Index (HPI) inched down by 0.1% month-over-month and was down 4.1% on a year-over-year basis.
• The actual (not seasonally adjusted) national average sale price was up 1.5% on a year-over-year basis in May 2026.

Amid rising concern about housing affordability for younger Canadians, this article investigates the housing market outcomes of millennials compared with Gen-Xers and baby boomers at a similar age (25 to 39 years). Using Census of Population data from 1991, 2006 and 2021, this article examines shifts in the housing market outcomes of each generational cohort in relation to moving out of the parental home, forming families and homeownership status.

Key findings

• In 2021, the share of millennials aged 25 to 39 living in a census family with parents (16.3%) was around twice the share of baby boomers of the same age in 1991 (8.2%). This trend has occurred gradually over time and is common to the large cities studied.
• After accounting for those living with their parents, millennials had the lowest rate of homeownership (49.9%), compared with Gen-Xers (56.2%) and baby boomers (55.9%) when they were aged 25 to 39 years.
• Fewer millennials aged 25 to 39 were married with children (26.6%) compared with Gen-Xers (34.5%) and baby boomers (46.6%) when they were the same age―the household type with the highest rate of homeownership historically.
• Millennial homeowners, after accounting for those living with their parents, were less likely to live in single-detached houses relative to earlier generations, especially those living in Toronto and Vancouver.