CMHC EXPECTS HOUSING MARKET TO BE STRONG IN SECOND HALF OF 2009 AND INTO 2010

Financial Post - September 4, 2009

Canada's housing market will rebound strongly in the second half of this year and into 2010, the federal housing agency said.  Housing starts will reach 141,900 this year and increase to 150,300 for 2010 said CMHC.  "Improving activity on the resale market and lower inventory levels in both the new and existing home markets are expected to prompt builders to increase residential construction.

Bob Dugan Chief Economist with CMHC said, "Economic uncertainty and lower levels of employment tempered new housing construction in the first half of this year.  We expect housing markets to strengthen in second half of 2009 and into 2010 across Canada."

 

 

 

Stephen Lynott

Stephen Lynott

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