Canada Mortgage and Housing Corporation (CMHC) has been helping Canadians meet their housing needs for more than 70 years. As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of our operations.
CMHC recently released the Fall edition of the Housing Market Outlook.
Here are the highlights:
- After the boost in residential construction for 2017, housing starts are projected to decline by 2019
- Sales of existing homes are expected to decline relative to the record level of above 535,000 MLS® sales registered in 2016.
- The average The average MLS® price should increase over the forecast horizon, but at a slower rate than in the past four years. The average price should lie between $493,900 and $511,300 in 2017 and between $499,400 and $524,500 by 2019.