Home Sales Predictions

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By Elli Davis, September 4, 2010

The third quarter Housing Market Outlook, Canada Edition, released by the Canada Mortgage and Housing Corporation predicts that demand for homes in Ontario will be moderate throughout the rest of 2010. Home sales are eventually expected to stabilize by the beginning of 2011.

The number of sales this year and in 2011 is forecasted to range between 175,000 and 210,000 units. Home starts in the province are predicted to strengthen this year, if compared to 2009 and moderate later in 2011. Prices, even though they seem to be constantly increasing, are also expected to level out during the next couple of months. However, they ought to start rising again next year.

The predictions for Ontario are not bad really. Especially if we consider that the job market is, by the CMHC report, said to be on a good road to recovery. For some time, in Toronto and the whole of Ontario, the job market has given us all serious concerns.