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Ontario housing markets to stabilize through 2010: CMHC

The housing market is already beginning to recover, a trend which will continue strongly into 2010, according to the Canadian Mortgage and Housing Corporation (CMHC)’s fourth-quarter housing market outlook.
Northern Ontario Business Staff

 
The housing market is already beginning to recover, a trend which will continue strongly into 2010, according to the Canadian Mortgage and Housing Corporation (CMHC)’s fourth-quarter housing market outlook.

Housing starts are expected to reach 141,900 through 2009, and increasing to 164,900 in 2010.

Existing home sales, as measured by the Multiple Listing Service (MLS), will likely reach 441,300 units in 2009 and grow to 445,150 units in 2010.

Average MLS prices province-wide are expected to reach $312,950 in 2009 and $324,500 in 2010.