Atlantic Canada Housing Market Slows

(firmenpresse) - HALIFAX, NOVA SCOTIA -- (Marketwire) -- 06/14/12 -- According to Canada Mortgage and Housing Corporation's (CMHC) second quarter Housing Market Outlook, Atlantic Edition(1), housing activity for both single and multiple housing starts will slow in 2012 by close to ten per cent and a further five per cent in 2013.

"Notwithstanding an expected decline, the level of construction activity is forecast to remain historically high. Multiple starts, including apartments, are forecast to decline 15 per cent in 2012 and a further six per cent in 2013. Weak employment and wage growth are expected to dampen single starts by seven per cent in 2012, with a further decline of three per cent in 2013," said Alex MacDonald, regional economist, with CMHC's Atlantic Business Centre.

Prices are forecast to rise close to three per cent in 2012 as a continuing increase in supply will keep the level of price increases close to the rate of inflation. Existing home sales for 2012 are forecast to decline moderately, in the two per cent range.

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 or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at .

MLS® is a registered trademark of the Canadian Real Estate Association.

(Ce document existe egalement en francais)





Contacts:
Alex P. MacDonald, Regional Economist
(902) 426-8964

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Bereitgestellt von Benutzer: MARKETWIRE
Datum: 14.06.2012 - 12:15 Uhr
Sprache: Deutsch
News-ID 156499
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