The Canada Mortgage and Housing Corporation (CMHC) predicted Monday that housing starts are expected to average 186,200 units in 2010, while housing starts in 2011 are expected to decrease to 174,800 units.
The CMHC's chief economist Bob Dugan commented that "high employment levels and low mortgage rates will continue to support demand for new homes in 2011. Nevertheless, housing starts will decrease."
The Canadian Real Estate Association commented that existing homes sales in 2010 were 22 percent the record level experienced in October 2009, and that sellers listed just over 68,000 new homes last month, 1.3 percent more than in September.