Housing demand to pick up in late 2013
Posted Nov 22, 2012 10:56:16 AM.
This article is more than 5 years old.
Housing demand will pick up in Waterloo Region in the later half of 2013.
Canada Mortgage and Housing Corporation presented its’ annual local market outlook this morning at Bingemans in Kitchener.
The boost will be tied to U.S. economic growth and as a result employment opportunities increasing here.
“The beginning of 2013 will be lowest and as we move through 2013 there will be some increasing, especially in the resale market, increasing sales.” said Erica McLerie, CMHC Senior Market Analyst for Waterloo Region.
McLerie says Waterloo Region’s real estate market has handled the economic downturn well. “Resale numbers have come off the peak in 2007, but still they are fairly steady, strong…price growth has been continuing.”
Housing starts in 2013 will also move up from the end of this year.
Once again, low mortgage rates and household growth will continue to support demand.
CMHC says London, Windsor, Sudbury and Thunder Bay will outperform other Ontario communities in the new year.
