Stability for housing market
Posted Nov 2, 2010 12:45:13 PM.
This article is more than 5 years old.
Stability and balance aren’t generally words associated with the local housing market, but according the Canada Mortgage and Housing Corporation the Kitchener, Cambridge and Waterloo Census Metropolitan Area housing market will do just that in 2011.
Senior Market Analyst Erica McLerie tells 570 News low interest rates, population growth and an improving job market outlook will support improving housing demand through next year.
Other highlights from the annual Housing Outlook Seminar hosted Tuesday in Kitchener by CMHC include sales of existing homes will pick up after bottoming out in the third quarter of 2010 and new listings will remain high, with a balanced market through most of 2011.
CMHC Ontario Regional Economist Ted Tsiakopoulos says with provincial home sales and prices moderating from earlier this year, Ontario housing activity is now more in line with economic conditions.
He says going forward more stability is expected in the housing market in the months ahead.
