Monday, December 22nd5.1°C
24124
23931

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 TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8613-0.0004
Gold1197.90+2.00
Oil56.50+2.39
Lumber338.00-0.70
Natural Gas3.285-0.179

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
23744


24387

FEATURED Property
19645031805 Scott Crescent
4 bedrooms 5 baths
$875,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_



24386

24386


Member of BC Press Council


24333