Barrie Housing Market Slowing – Daily Commercial News

Real Estate — November 9, 2012

Barrie Housing Market Slowing

TORONTO, ONTARIO--(Marketwire - Nov. 9, 2012) - According to Canada Mortgage and Housing Corporation (CMHC) Fall Housing Market Outlook report for the Barrie CMA, demand for resale homes will slow in the second half of 2012 and the first half of 2013. Sales will recover later in 2013, but the total for the year will still be lower than in 2012. In the new home market, starts will continue to gain ground in 2012, but they will lose their strength in 2013. Both new and resale home prices will increase moderately in 2013.

"Economic uncertainty and increased mortgage carrying costs will dampen demand for housing in late 2012 and early 2013," said Abdellah Massaoudi, CMHC Market Analyst for the Barrie area. "With improving economic conditions, slower price growth and a slight increase in the number of migrants looking for affordable housing, the housing market will start to recover in the second half of 2013.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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 CMHC Housing Market Information.

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Contact Information

Market Analysis Contact:
Canada Mortgage and Housing Corporation
Abdellah Massaoudi
416-218-3461
amassaou@cmhc.ca

Regional Media Contact:
Canada Mortgage and Housing Corporation
Beth Bailey
416-218-3355
bbailey@cmhc.ca