Real Estate — November 5, 2012

Housing Demand Set to Moderate Before Growing Later in 2013

TORONTO, ONTARIO--(Marketwire - Nov. 5, 2012) - Ontario housing activity has and will continue to moderate from early 2012 year levels according to the 2012 Fourth Quarter CMHC Housing Market Outlook - Canada Edition released today. Ontario housing starts are expected to moderate to 65,000 units in 2013 after growing to 77,600 units in 2012. Ontario housing starts will range between 59,600 and 70,400 units in 2013.

"Housing demand has moderated but will gain momentum by the second half of 2013 thanks to improving economic and housing conditions. Larger urban Ontario centres have been capturing a growing share of housing activity in recent years. A gradual shift in housing activity is expected as smaller urban housing markets hold up relatively better next year. Housing markets in Windsor, Thunder Bay, Sudbury and London will outperform thanks to an ongoing US economic recovery, relatively more affordable housing and residential construction that is better in line with household formation," said Ted Tsiakopoulos, CMHC`s Ontario Regional Economist.

MLS® sales are expected to moderate but will range between 181,500 to 207,100 unit transactions in 2013. Ontario home prices will stabilize next year as markets remain balanced.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at http://www.cmhc.ca/housingmarketinformation.

To view the graphs associated with this press release, please visit the following links: http://media3.marketwire.com/docs/831313e_graphs.pdf.

Contact Information

Market Analysis Contact:
Ted Tsiakopoulos
416-218-3407 or Cell: 416-579-4992
ttsiakop@cmhc.ca

Media Contact:
Beth Bailey
416-218-3355 or Cell: 416-988-4615
bbailey@cmhc.ca
www.cmhc.ca

Print

Latest Industry Press Releases

Updated 7:49 EDT, April 16, 2014  

Construction/Building

Media Advisory: Scotiabank Real Estate Market Outlook Conference (2014-04-15)

Artis Real Estate Investment Trust Announces Quarterly Cash Distribution (2014-04-15)

Artis Real Estate Investment Trust Announces Monthly Cash Distribution (2014-04-15)

Greater Toronto Realtors(R) Report Q1 Rental Market Statistics (2014-04-15)

Greater Toronto Realtors(R) Report Q1 Condominium Market Statistics (2014-04-15)

De nouveaux logements abordables ouvrent leurs portes à Regina (2014-04-14)

Innovative Composites International Inc. Announces Closing of Debenture Offering (2014-04-14)

Governments of Canada and New Brunswick Celebrate New Affordable Housing in Saint John (2014-04-14)

New Affordable Housing Open in Regina (2014-04-14)

Nouvelle maison d'hébergement d'urgence à Melfort (2014-04-11)

Media Advisory: New Affordable Rental Housing Opens in Regina (2014-04-11)

Avis aux médias : De nouveaux logements locatifs abordables ouvrent leurs portes à Regina (2014-04-11)

Media Advisory: Canada Mortgage and Housing Corporation (2014-04-11)

Toromont to Announce First Quarter 2014 Results on April 24 (2014-04-11)

New Emergency Shelter in Melfort (2014-04-11)

Superior Plus Announces April 2014 Cash Dividend and Upcoming Events (2014-04-10)

Lamb Development Corp. Announces the Release of Their Latest Development, The Harlowe (2014-04-10)

Delavaco Residential Properties Corp. Begins Trading on OTCQX (2014-04-10)

Avis aux médias : Nouvelle maison d'hébergement d'urgence à Melfort (2014-04-10)

Media Advisory: New Emergency Shelter in Melfort (2014-04-10)

MOST POPULAR STORIES
TODAY’S TOP CONSTRUCTION PROJECTS

These projects have been selected from 415 projects with a total value of $3,354,507,550 that Reed Construction Data Building Reports reported on Tuesday.

HOSPITAL ADDN/ALTS

$200,000,000 Milton ON Tenders

HOTEL

$55,000,000 Ottawa ON Negotiated

SOLAR FARM

$30,000,000 Lennox and Addington Co ON Negotiated

Daily Top 10