Canada Mortgage and Housing Corporation (CMHC) just released their first quarter 2012 Housing Market Outlook for Canada, and the report suggests that Canada’s housing markets are expected to remain steady for the remainder of 2012 and for 2013.
A number of factors were taken into consideration for the outlook, and Deputy Chief Economist for CMHC Mathieu Laberge pointed out the expected moderate growth in the Canadian economy as well as the current low mortgage rates. He also noted “…activity levels in 2012 in both new home construction and sales of existing homes will stay close to levels seen in 2011”.
For 2012 the average MLS® price is forecasted to be between $330,000 and $410,000 and in 2013 between $335,000 and $430,000. These forecasts are in line with the balanced market conditions that occurred in 2011 and that are expected to continue in 2012 and 2013.
For the full Outlook, please visit: https://www03.cmhc-schl.gc.ca/catalog/productDetail.cfm?lang=en&cat=63&itm=1&fr=1329260788203
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