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Housing Activity to Strengthen in 2010

Housing starts have started to recover and are expected to continue to improve in the second half of 2009. Starts are expected to reach 141,900 for the year and will increase to 164,900 for 2010, according to Canada Mortgage and Housing Corporation’s (CMHC) fourth quarter Housing Market Outlook, Canada Edition* report. 

National Housing Outlook

Key Housing Market Indicators

 

2008
Actual

2009
Forecasts

2010
Forecasts

Total Housing Starts (units)

211,056

141,900

164,900

Forecast Ranges

 

138,000 – 146,000

135,000 – 190,000

Total Single-detached Houses

93,202

70,350

79,700

Forecast Ranges

 

68,800 – 72,150

63,100 – 93,600

Total Multiple Housing Units

117,854

71,550

85,200

Forecast Ranges

 

69,200 – 73,850

71,900 – 96,400

Total MLS® Sales1

433,990

441,300

445,150

Forecast Ranges

 

437,000 – 453,500

415,000 – 460,000

Average MLS® Selling Price ($)

303,607

312,950

324,500

Forecast Ranges

 

309,000 – 316,500

313,000 – 341,500

 

Provincial Housing Outlook

Total Housing Starts

 

2008
Actual

2009
Forecasts

2010
Forecasts

Newfoundland and Labrador

3,261

2,900

3,000

Prince Edward Island

712

740

725

Nova Scotia

3,982

3,275

3,500

New Brunswick

4,274

3,400

3,525

Quebec

47,901

43,300

43,000

Ontario

75,076

47,400

56,500

Manitoba

5,537

4,000

4,800

Saskatchewan

6,828

3,600

4,350

Alberta

29,164

17,950

22,000

British Columbia

34,321

15,200

23,400

Source: CMHC Housing Market Outlook, Canada Edition, Fourth Quarter 2009. Totals may not add due to rounding.

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Constantine Isslamow

Real Estate Broker/Mortgage Broker/Manager

Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.

Independently Owned and Operated

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CENTUM Core Financial Inc. Brokerage License #: 10642

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Posted by Constantine Isslamow on December 22, 2009
Tags: Housing Starts
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