 鲜花( 7)  鸡蛋( 0)
|
House prices are going to go up next year, albeit by a mere $200, according to Canada Mortgage and Housing Corp.
7 q, ^) J# x$ H5 O2 C
8 H* a6 [( i0 D5 X) tThe Crown corporation warned that some moderation can be expected in the once red-hot housing sector for the rest of this year and into 2009. : k0 O+ c# K9 i. s5 l9 C( M+ i9 X
8 Q; E7 J* Q; n( f8 g! G3 Y8 vThe forecast comes as house prices have been falling nationally, according to the Canadian Real Estate Association. Canada's largest housing markets have experienced prices declines from a year ago for four straight months, with each percentage drop bigger than the next.
" W b0 A- X# r$ W: n1 A& |. q9 S1 t: P: s' |' a
Now CMHC has waded into the debate with its own forecast that despite the recent trend, home sale prices should edge up this year.3 y4 I, p( }/ B0 b9 A+ i. [
0 `3 {; ?7 S) u$ x5 L% P# l& U- I: O
It expects the average price of a home sold to rise to $306,500 from $305,707. By next year the average sale price is forecast to rise to $306,700.$ b6 B, \0 I5 S9 v
0 g& o _" f) L9 H; U"High employment levels, rising incomes and low mortgage rates have continued to provide a solid foundation for healthy housing markets this year," said Bob Dugan.
( _1 b2 c6 _ K2 S
9 v2 Y4 Q7 I* N8 K: e9 s0 QHowever, CMHC is clearly predicting a pullback and titled its latest report, "Housing market starting to ease." 6 ]. q: X V" K. J+ Y
% ?( ]4 T* S: Z+ Y3 R) ]
It says for the first time in seven years the number of new homes built across the country will dip below 200,000. W) A. o7 Y7 O/ s
7 M' F' U5 G3 ?The agency is forecasting 212,188 starts for this year which will be a drop from the 228,343 homes built in 2007. By 2009, the forecast is for 177,975 new homes to be built. 6 h5 k( ^4 J$ U
# b: G# @5 Z# @0 z2 W4 j ~The prognosis is not much better for the sales of existing homes. After setting an all-time sales record of 523,701 transactions in 2007, sales are expected to drop to 452,225 in 2008 and 433,375 in 2009.7 i+ X! o0 [- S* C1 S5 G8 {
4 q9 }2 U% u/ c3 N) n7 rCMHC says those sales are "still strong" by historical standards. |
|