A series of stronger housing starts through Canada in the second half of 2009 will only continue to strengthen through 2010, according to a report by the Canada Mortgage and Housing Corporation (CMHC).
A series of stronger housing starts through Canada in the second half of 2009 will only continue to strengthen through 2010, according to a report by the Canada Mortgage and Housing Corporation (CMHC).
While 2009 saw a total of 149,081 units, housing starts are anticipated to reach between 152,000 and 189,300 units in the coming year. That range will continue to rise through 2011, with starts expected to be between 156,400 and 205,600 units.
"Canadian housing markets will benefit from improving economic conditions and low mortgage rates," said Bob Dugan, chief economist for the CMHC, in a release.
The existing home market has shifted from a buyer's market at the outset of 2009 to a seller's market, with the general lack of new listings for existing homes pushing demand into the new home market, said Dugan.
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