Another forecaster has called for a moderate housing market in 20011, as the Canadian Housing and Mortgage Corporation (CMHC) calls for prices to remain in line with inflation over the next two years. In its first quarter market outlook CMHC says existing home sales will be in the range of 398,500 to 485,500 units in 2011, with a point forecast of 441,500 units. In 2012, MLS sales will move up and are expected to be in the range of 406,300 to 519,700 units, with a point forecast of 462,900 units. “Modest economic growth will continue to push employment levels higher this year and next. This, in conjunction with relatively low mortgage rates, will continue to support demand for new homes. Housing starts will remain in line with long term demographic fundamentals over the course of 2011 and 2012,” said Bob Dugan, chief economist for CMHC. Housing starts will be in the range of 157,300 to 192,900 units in 2011, with a point forecast of 177,600 units. In 2012, housing starts will be in the range of 154,600 to 211,200 units, with a point forecast of 183,800 units. BrokerNews.caCMHC calls for moderate house market
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Another forecaster has called for a moderate housing market in 20011, as the Canadian Housing and Mortgage Corporation (CMHC) calls for prices to remain in line with inflation over the next two years. In its first quarter market outlook CMHC says existing home sales will be in the range of 398,500 to 485,500 units in 2011, with a point forecast of 441,500 units. In 2012, MLS sales will move up and are expected to be in the range of 406,300 to 519,700 units, with a point forecast of 462,900 units. “Modest economic growth will continue to push employment levels higher this year and next. This, in conjunction with relatively low mortgage rates, will continue to support demand for new homes. Housing starts will remain in line with long term demographic fundamentals over the course of 2011 and 2012,” said Bob Dugan, chief economist for CMHC. Housing starts will be in the range of 157,300 to 192,900 units in 2011, with a point forecast of 177,600 units. In 2012, housing starts will be in the range of 154,600 to 211,200 units, with a point forecast of 183,800 units. BrokerNews.ca