CMHC paints rosy picture for 2013
New home construction is expected to increase next year.
That forecast was released Monday by the Canada Mortgage and Housing Corporation.
Not only is new home construction expected to rise in 2013, but sales are also expected to increase.
"Stronger employment growth coupled with low mortgage interest rates will support demand for new and existing homes in 2013," says CMHC Market Analyst, Paul Fabri.
"Lower inventories of new, completed and unoccupied units will also contribute to higher levels of new home construction next year."
Fabri says housing starts are forecast to top the 1,000 mark (1,050) in 2013 compared with 820 homes in 2012.
Both the detached home and multi-family sectors are expected to lead the way.
The uptick in MLA sales in 2012 is also expected to carry over into next year.
Fabri says home prices are expected to stabilize this year and edge higher through the second half of 2013 as demand picks up and the supply of available homes for sale slowly decreases.
Read more Business News
- Backpack dropper arrestedWorld - 6:58 am
- Mass murder in CalgaryCanada
- Robbery on TranquilleKamloops - 6:23 am
- Acquittal in waste casePenticton / S. Okanagan - 5:00 am
|QHR Technologies Inc||1.30||+0.03|
|Anavex Life Sciences||0.36||-0.02|
|Copper Mountain Mining||2.43||+0.11|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.23||-0.02|
The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...
Photo: ContributedFor many businesses this has been a tremendously difficult time since the 2008 crisis. Business fell off. Sales techniques that always worked, well… stopped working. Customers...
Many times when we are gripped by fear it can be one of two mental challenges that we can learn to overcome. Photo: ContributedThe Fear is completely imaginary. In this situation there may be no fact...