This just in from CMHC!!! If you're holding back, now's the time to Buy or Sell. Prices just keep rising!
Ottawa housing market looks strong through 2010: CMHC
OTTAWA — Ottawa’s housing market will remain healthy next year as sales increase and housing starts rebound, says Canada Mortgage and Housing Corporation.
“Once again, Ottawa’s housing market has shown itself to be resilient in periods of economic slowdown,’’ Sandra P Derez Torres, CMHC’s senior market analyst for Ottawa, said Thursday.
CMHC released its latest forecast for the Ottawa area at its annual Ottawa Housing Outlook Conference. CMHC also said that spillover demand coming from the existing home market will set the foundations for a strong rebound in new home construction next year, with 5,900 new properties to be built.
This year, both MLS sales and prices will increase by 2.1 and 3.3 per cent respectively when compared to the previous year. “We anticipate the gradually improving provincial economy and improved credit and financial market conditions will help stabilize housing activity next year,’’ said Ted Tsiakopoulos, CMHC’s Ontario regional economist.
“However, less pent-up demand and cautious consumer spending will temper Ontario’s housing recovery in 2010.’’