According to a report published Friday by the Canadian Mortgage and Housing Corporation's (CMHC) chief economist, the Canadian housing market is projected to remain steady through 2012 and 2013. Housing starts will be in the range of 164,000 to 212,700 units in 2012--with a point forecast of 190,000 units. In 2013, housing starts will be in the range of 168,900 to 219,300 units--with a point forecast of 193,800 units.
"With the Canadian economy set to expand at a moderate pace and mortgage rates expected to remain low, activity levels in 2012 in both new home construction and sales of existing homes will stay close to levels seen in 2011," said Mathieu Laberge, Deputy Chief Economist for CMHC.