Housing starts to stay stable in 2014
November 1, 2013 By Canadian Garden Centre & Nursery
Nov. 1, 2013, Ottawa — Expect housing starts to be stable in 2014 as employment growth and migration continue to support the housing market, advised Canada Mortgage and Housing Corporation in its latest market outlook report.
"In the new home market, builders are nevertheless expected to limit the number of housing starts while inventories of unabsorbed units, completed and under construction, are drawn down," said Mathieu Laberge, deputy chief economist for CMHC.
In 2014, CMHC expects housing starts will range from 163,700 to 205,700 units, with a point forecast of 184,700 units.
Forecasts for 2013 have housing starts ranging from 179,300 to 190,600 units with a point forecast of 185,000 units. That's down from 214,827 units in 2012.
All forecasts reflect information available as of Oct. 16.
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