Cell: 604-855-2521 |

CMHC Predicting Market Stability for Canadian Real Estate

Canada’s Mortgage Housing Corporation is predicting there will be no housing downturn in Canada.  CMHC is suggesting property sales will be softer next year and prices will be flatter, but no downturn will result.  New housing starts in Vancouver will grow 4% next year.


 “Balanced market conditions in most local housing markets will result in a slowing in house price growth as well,” said Mathieu Laberge, CMCH’s deputy chief economist.
 The average price for a single detached home in the Vancouver region should reach $1.13 million by 2013.  Investors are moving their money and focus away from single family detached homes to the condo market. With prices so high, most people seeking homes will have to look at condo offerings . Others will be forced to rent.

CMHC is a federally funded organization that provides various types of mortgage insurance to protect lenders from the risks of defaults by home buyers. It’s research unit monitors residential construction activity, housing sales and provides market outlooks for various sectors of the economy.

Comments:
No comments

Post Your Comment:

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.