This afternoon, CMHC sent me their newest report about the Kitchener Waterloo and Guelph (they have added Guelph into the Kitchener Waterloo report this quarter) real estate market ("Kitchener and Guelph CMA Housing Market Outlook").
There is a wealth of research and statistical knowledge contained in it, including information on new housing starts, sales volume, sales prices, and economic trends.
Here is a sample of what CMHC has to say about the residential real estate market:
Relatively more affordable existing home prices, a high level of new listings, low mortgage carrying costs through diverse home financing options, limited choice in the new home market and continued population growth will contribute to the record sales in 2007 and only a slight pullback [in volume] for sales in 2008.
The supply of new listings has been trending higher since 2000. As house prices continued to rise, homeowners have been encouraged to list their homes for sale.
New listings will remain high in 2008, but virtually unchanged from 2007 levels.
The ample choice will encourage potential homebuyers to begin their search for a home in the resale home market.
Despite the high level of new listings, demand has outpaced supply.
You can read the entire report here, and read the rest of this article at my Kitchener Waterloo Real Estate Investment blog
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