CMHC Canada Mortgage and Housing Corporation
Date Released: Third Quarter 2009
Existing home sales will moderate this year reaching 174,0001 units, down from over 181,000 units in 2008.
High levels of affordability will be supported by modest employment gains – helping keep sales at high levels in 2010.
Sales over 2009/10 will move in line with levels earlier in the decade.
Resale markets have tightened and balanced market conditions will be sustained.
Average home prices will grow by 1.6 per cent this year and 0.8 per cent in 2010.
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