Two Steady Years in the Canadian Real Estate Market Forecasted by Canada Mortgage and Housing Corporation (CMHC), the Crown Corporation insures Canadian Mortgages.
CMHC calls for moderate growth in 2012, forecasting housing starts in the range of164,000 to 212,700 and sales of existing homes to be in the range of 406,000 to 504,500, and 2013 housing starts to be in the range of 168,000 to 219,300 with the resale market to be in the range of 417,600 to 517,400. Among key factors backing CMHC's prediction are low interest rates and a "moderately" expanding economy.
To read the complete article from the Business News Network or to see a video commentary of the CMHC forecast, click here.
Chris Smith CSSBB
Chay Realty Inc., Brokerage