Ontario Housing to Stabilize says CMHC

By
Real Estate Agent with Forest Hill Real Estate Inc, Brokerage

Queen's Park October

Ontario housing conditions will stabilize

Stable economic conditions across the province will help stabilize housing demand in 2010 according to the 2009 Third Quarter CMHC Housing Market Outlook - Canada Edition.

Highlights of the Ontario forecast include:

• The Ontario economy will stabilize at year end before gradually recovering in 2010

• Ontario resale volumes will stabilize and range between 160,000 and 190,000 unit sales this year and next - reaching 174,000 units in 2009, and 166,750 units in 2010.

• Resale volumes will be down from the peak in 2007 but will be in line with volumes earlier this decade.

• After experiencing buyers market conditions early this year, balanced market conditions will be sustained through 2010 – prices will rise by 1.6 per cent and 0.8 per cent this year and next respectively.

• After declining in 2009, new home starts will edge up and reach 50,000 units in 2010 but owing to economic uncertainty will range between 45,800 and 60,000.

• High levels of affordability will support demand for detached housing in the immediate term but a shift to more inexpensive multi-family housing will occur as affordability erodes in late 2010.

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I proudly server buyers and sellers in the Toronto Neighbourhoods -Toronto Neighbourhood Mapsof: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

Whether you're buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

I am never too busy for any of your referrals

Diane Plant, Broker
Re/Max Realtron Realty Inc, Brokerage
(416) 782-8882


TORONTO REAL ESTATE WEBSITE

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Rainer
232,060
Marcia Hawken
WILLIAM RAVEIS - Naples, FL
Naples Luxury Specialist

Diane, Very interesting.  Thanks for sharing

Oct 08, 2009 09:48 PM #1
Rainer
232,060
Marcia Hawken
WILLIAM RAVEIS - Naples, FL
Naples Luxury Specialist

Diane, Just wanted to wish you a Happy Thanksgiving!

Oct 10, 2009 09:35 PM #2
Anonymous
Anonymous

Thanks for the holiday wishes. I am going to be in Detroit for your Thanksgiving. That should be fun.

If I know of anyone going to Naples and needs a property I will give them your name. 

http://activerain.com/blogsview/1243872/mortgages-for-recent-immigrants-to-canada

 

 

Oct 11, 2009 12:33 AM #3
Rainer
232,060
Marcia Hawken
WILLIAM RAVEIS - Naples, FL
Naples Luxury Specialist

Diane, I appreciate that.  I also have lots of friends in TO who are scaling down.  Will send them your way as well. 

Oct 11, 2009 10:05 PM #4
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Diane Plant

Broker, TorontoHomeSearch: Forest Hill Real Estate
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