Housing Activity to Strengthen in 2010
Housing starts have started to recover and are expected to continue to improve in the second half of 2009. Starts are expected to reach 141,900 for the year and will increase to 164,900 for 2010, according to Canada Mortgage and Housing Corporation’s (CMHC) fourth quarter Housing Market Outlook, Canada Edition* report.
National Housing Outlook
Key Housing Market Indicators
|
|
2008
Actual
|
2009
Forecasts
|
2010
Forecasts
|
|
Total Housing Starts (units)
|
211,056
|
141,900
|
164,900
|
|
Forecast Ranges
|
|
138,000 – 146,000
|
135,000 – 190,000
|
|
Total Single-detached Houses
|
93,202
|
70,350
|
79,700
|
|
Forecast Ranges
|
|
68,800 – 72,150
|
63,100 – 93,600
|
|
Total Multiple Housing Units
|
117,854
|
71,550
|
85,200
|
|
Forecast Ranges
|
|
69,200 – 73,850
|
71,900 – 96,400
|
|
Total MLS® Sales1
|
433,990
|
441,300
|
445,150
|
|
Forecast Ranges
|
|
437,000 – 453,500
|
415,000 – 460,000
|
|
Average MLS® Selling Price ($)
|
303,607
|
312,950
|
324,500
|
|
Forecast Ranges
|
|
309,000 – 316,500
|
313,000 – 341,500
|
Provincial Housing Outlook
Total Housing Starts
|
|
2008
Actual
|
2009
Forecasts
|
2010
Forecasts
|
|
Newfoundland and Labrador
|
3,261
|
2,900
|
3,000
|
|
Prince Edward Island
|
712
|
740
|
725
|
|
Nova Scotia
|
3,982
|
3,275
|
3,500
|
|
New Brunswick
|
4,274
|
3,400
|
3,525
|
|
Quebec
|
47,901
|
43,300
|
43,000
|
|
Ontario
|
75,076
|
47,400
|
56,500
|
|
Manitoba
|
5,537
|
4,000
|
4,800
|
|
Saskatchewan
|
6,828
|
3,600
|
4,350
|
|
Alberta
|
29,164
|
17,950
|
22,000
|
|
British Columbia
|
34,321
|
15,200
|
23,400
|
Source: CMHC Housing Market Outlook, Canada Edition, Fourth Quarter 2009. Totals may not add due to rounding.
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Posted by Constantine Isslamow
on December 22, 2009