CMHC Fourth Quarter 2013 Housing Outlook For Kitchener Waterloo

CMHC has released its Fourth Quarter 2013 Housing Outlook.  The hotspots in Ontario are projected to be Thunder Bay and Brantford while Ottawa and Kitchener, Waterloo are expected to see slower growth.

Following years of tremendous growth, Canada Mortgage and Housing Corporation projects a balanced market for Kitchener Waterloo.  Unit sales through the Multiple Listing Service are expected to rise just .4% from a projected 6575 sales in 2013 to 6600 next year.  Average prices in Kitchener Waterloo are poised to rise .5% from the current $325,000 to $326,500 for 2014.  CMHC expects a shift in demand to more moderately priced homes such as row-housing and condominiums to keep the lid on average price growth in Kitchener Waterloo. 

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