Friday, February 27th1.2°C
25154
24506

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

23015


Recent Trending




Today's Market
S&P TSX15241.16+12.59
S&P CDNX700.93+1.44
DJIA18214.42-10.15
Nasdaq4987.89+20.753
S&P 5002110.74-3.12
CDN Dollar0.8013+0.0022
Gold1203.00+6.10
Oil51.43+1.04
Lumber296.80+1.30
Natural Gas2.895-0.007

 
Okanagan Companies
Pacific Safety0.115-0.005
Knighthawk0.010.00
QHR Technologies Inc1.58+0.02
Cantex0.035-0.005
Anavex Life Sciences0.19+0.001
Metalex Ventures0.04+0.005
Russel Metals25.68+0.37
Copper Mountain Mining1.26+0.03
Colorado Resources0.15+0.015
ReliaBrand Inc0.0087+0.0017
Sunrise Resources Ltd0.05+0.015
Mission Ready Services0.21-0.015

 



24811

FEATURED Property
2197216#212 3870 Brown Road
2 bedrooms 2 baths
$359,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...

_








Member of BC Press Council


24850