This is CMHC's prediction for the 2010 detached housing market, interesting to say the least!
Single-detached starts to move higher in 2010
Strong price growth in the past few years for single-detached housing has moderated the demand for this type of housing, and increased demand for less expensive multi-family housing.
The uncertain economic environment in late 2008 and early 2009 contributed to the downward trend in single starts. By the second quarter of 2009, however, single starts rebounded in most provinces.
Over the forecast horizon, this trend is expected to continue as more moderate prices make the singles market more attractive. After declining to 70,350 units in 2009, the number of single-detached housing starts will increase to 79,700 units in 2010.
By and large, starts of single-detached housing will continue to recover in the second half of 2009. Moving into 2010, all provinces will see an increase in the number of single-detached starts. In British Columbia, here employment growth is expected to be the strongest in the country, starts of single-detached homes will move up to 8,400 units, the largest percentage increase in the country for 2010.
I hope this finds you Happy and Healthy!
All the Best!
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mailto:email@example.com?subject=Mississauga
Website : Mississauga4Sale.com
- Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
- Power of Sales and Foreclosures
- If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
- See seasonal housing patterns
- Would you like me to send you a 2009 Calendar?