6 February 2014
The housing agency expects from 163,200 to 206,600 units started in 2015, with a most likely number of 184,900.
These two predictions show a significant decline from 214,827 starts of 2012. As you know, at that moment the housing market was at record highs, so the government decided to tighten mortgage rules.
In case of existing homes, CMHC expects sales ranging from 436,000 to 497,000 in 2014, with a point number of 466,500 units. And though it’s a bit down from October’s forecast of 468,200, it’s still higher than 457,485 reported last year.
When it comes to 2015, the Corporation sees an increase to a range of 443,400 to 506,000. The most likely outcome is 474,700.
Meanwhile, price growth may slow in 2014 and 2015. According to CMHC, the average price will go up by 2.1% to C$390,400 ($351,600) this year. In 2015, we may see an increase of 1.7% to C$397,100.