Friday, November 20, 2009

National Housing Outlook In Detail

This is another in a series of articles from CMHC talking about the country and the housing outlook

National Housing Outlook In Detail

While activity has picked-up in recent months, when compared to low levels in the first half of 2009, housing starts will still decrease to 141,900 units this year compared to 211,056 in 2008.

Housing starts will increase to 164,900 in 2010 as the economy strengthens. Given the degree of economic uncertainty, we have considered an array of economic
scenarios to generate a range for the housing outlook in 2009 and 2010.


Accordingly, we expect starts to be between 138,000 and 146,000 units in 2009 and between 135,000 and 190,000 units in 2010.

Housing starts were down in most provinces in the first half of 2009, however, activity is beginning to rebound and will continue to do so in the remainder of 2009 and into 2010.

Nevertheless, housing starts are forecast to decline in all ten provinces in 2009. Moving forward to 2010, growth will turn positive in nearly all provinces, with Western Canada leading the way.

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


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