|
Dear
Nitesh,
Here are some housing stats and mortgage information published by CMHC
and other housing agencies in Canada.
|
|
Housing starts cooling in '07 & '08
|
|
According to a news release by CMHC on Aug 15, the number of units
being built will decrease by 3.2% from last year to 220,000. Further
more residential construction is expected to drop to 207,000 units in
2008.
** However, keep in mind that 2008 will be the 7th consecutive year in
which housing exceeds 200,000 units. **
2007 was the best year on record by MLS (Multiple Listing Service) with
514,450 units. This is 6.5% increase over last year. In 2008, MLS sales
are predicted to drop to 494,750 units, making it the second highest on
record.
ONTARIO - New housing units
2006 73,417
2007 66,950
2008 64,500
The average MLS price in Ontario is expected to rise by 5.3% in '07
and 3.4% in '08.
For a complete outlook on all the provinces and to review the news
release, click here.
Housing starts lower in July
(CMHC - Aug 9, 2007)
|
|
Hope you found
this edition of Housing Stats & Mortgage Market Information usefull
and informative. I look forward to providing you with more insider's
knowledge next month.
Nitesh Kumar, AMP
Mortgage Consultant
T 416.419.2566
F 905.671.9753
E info@niteshkumar.com
W www.NiteshKumar.com
|
|
