CMHC Housing Market Outlook
Resales in 2009: 370,500
Resales Estimate for 2010: 405,000
Sales of existing homes through MLS®1 are forecast to decline 14.6% nationally this year compared to last year’s level, but increase 9.3% in 2010. After several years of strong gains, the average MLS® price is expected to decline by 5.2% in 2009 as sales of existing homes moderate and new listings continue to increase. The average MLS® price is to see minimal change in 2010.