Construction/Building — November 5, 2012Housing Market to Gradually Decline
HALIFAX, NOVA SCOTIA--(Marketwire - Nov. 5, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC's) Quarterly Housing Market Outlook - Atlantic report, housing starts are expected to decline just under five per cent in 2012 and a further eight per cent in 2013.
"Notwithstanding the overall decline in 2012, the level of construction activity is forecast to remain above 11,000 units for the third year in a row, with the forecast for 2013 also expected to come very close to the 11,000 level," said Alex MacDonald, Regional Economist with CMHC's Atlantic Business Centre.
"Multiple starts, including apartments, are forecast to decline nine per cent in both 2012 and 2013. Despite moderate employment and wage growth, single starts are only expected to decline about one per cent in 2012, followed by a more significant eight per cent drop in 2013," said MacDonald.
"In the existing homes market, MLS® sales are forecast to increase two per cent in 2012. In 2013, expect a decline of four per cent in sales," added MacDonald.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.
MLS® is a registered trademark of the Canadian Real Estate Association.
Additional data is available upon request
(Ce document existe également en français)
Latest Industry Press Releases
Empire Industries Announces Stock Option Grants (2013-12-10)
November 2013 Housing Starts in St. John's (2013-12-09)
November 2013 Housing Starts in Halifax (2013-12-09)
November 2013 Housing Starts in Prince Edward Island (2013-12-09)
November 2013 Housing Starts in New Brunswick (2013-12-09)
Superior Plus Announces December 2013 Cash Dividend (2013-12-05)
|MOST POPULAR STORIES|
- RCMP make another arrest in connection with its SNC-Lavalin probe
- “Super beam” installed in Montreal Champlain Bridge repair
- Concrete awards recognize Ontario’s best
- Tunnelling of the Toronto-York Spadina Subway Extension completed
- Is there energy gold to be mined in sewage processing?
- 20 Most Popular Stories
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 299 projects with a total value of $6,054,395,373 that Reed Construction Data Building Reports reported on Tuesday.
$200,000,000 Halton Reg ON Prebid
$191,000,000 Toronto ON Prebid
$144,000,000 Etobicoke ON Prebid
- VIDEO: Construct Canada 2013 CEO Power Breakfast
- LEED Platinum should be for top-tier projects: panel
- Lakeview HLPS Project
- Contractors need to carefully plan for projects, recommends lawyer panel
- Montreal rail junction realignment completed in tight window
- Toronto housing not cooling off, says BMO
- OCOT review panel objections still open until tomorrow
- Canadian hiring expected to remain stable: survey
- Journal of Commerce Update for the week of December 16th, 2013
- New Westminster Development
- Natural gas generating facilities planned
- Refinery costs jump by $2.8 billion
- Employers must be aware of liability at holiday office parties
- New charges needed for infrastructure
- Skills Training at BCIT
- Auditor generals weigh in on value of P3s
- Low lead requirements kicking in next year
- Mental heath and workplace psychology must be addressed
- Edmonton International Airport mall takes shape
- University of Winnipeg building an apartment complex