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Source: www.cmhc-schl.gc.ca, News Releases, November 2, 2009, Charles Sauriol

 
Housing starts have started to recover and are expected to continue to improve in the second half of 2009. Starts are expected to reach 141,900 for the year and will increase to 164,900 for 2010, according to Canada Mortgage and Housing Corporation’s (CMHC) fourth quarter Housing Market Outlook, Canada Edition* report.

"We expect housing markets across Canada to strengthen leading into and over the course of 2010 as economic conditions improve", said Bob Dugan, Chief Economist for CMHC.

"Demand for existing homes has rebounded since the beginning of the year. In addition, lower inventory levels characterize both the new and existing home markets. As a result, stronger housing demand will be reflected in higher levels of housing starts in 2010", said Mr. Dugan.

You can read the entire article here... http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-11-02-0815.cfm

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