Construction/Building — November 5, 2012Housing Market to Gradually Decline
HALIFAX, NOVA SCOTIA--(Marketwire - Nov. 5, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC's) Quarterly Housing Market Outlook - Atlantic report, housing starts are expected to decline just under five per cent in 2012 and a further eight per cent in 2013.
"Notwithstanding the overall decline in 2012, the level of construction activity is forecast to remain above 11,000 units for the third year in a row, with the forecast for 2013 also expected to come very close to the 11,000 level," said Alex MacDonald, Regional Economist with CMHC's Atlantic Business Centre.
"Multiple starts, including apartments, are forecast to decline nine per cent in both 2012 and 2013. Despite moderate employment and wage growth, single starts are only expected to decline about one per cent in 2012, followed by a more significant eight per cent drop in 2013," said MacDonald.
"In the existing homes market, MLS® sales are forecast to increase two per cent in 2012. In 2013, expect a decline of four per cent in sales," added MacDonald.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.
MLS® is a registered trademark of the Canadian Real Estate Association.
Additional data is available upon request
(Ce document existe également en français)
Latest Industry Press Releases
February 2014 Housing Starts in New Brunswick (2014-03-10)
February 2014 Housing Starts in Halifax (2014-03-10)
February 2014 Housing Starts in St. John's (2014-03-10)
February 2014 Housing Starts in Prince Edward Island (2014-03-10)
Retrocom REIT Announces 2013 Results (2014-03-06)
Superior Plus Announces March 2014 Cash Dividend (2014-03-06)
|MOST POPULAR STORIES|
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 527 projects with a total value of $1,552,331,732 that Reed Construction Data Building Reports reported on Friday.
$120,000,000 Oakville ON Tenders
$48,225,000 Etobicoke ON Prebid
$40,000,000 Ottawa ON Negotiated
- A Closer Look VIDEO: Construction on the Panama Canal Expansion
- CCA96th: Unlocking Canada's Potential
- VIDEO: LiUNA Local 183 Training Centre introduces new programs
- Wins delivered on infrastructure front: Rizzardo
- Behind the Velodrome’s Veil
- Ontario’s prompt payment bill needs work but supported
- Southwest L-evation
- Post-bid clarifications make feds liable for bid repair
- Panama Construction Fact for Today
- Ritchie Bros. hold first Canadian auction of 2014
- Skilled labour needs changing in Saskatchewan
- Quebec’s construction momentum ebbs after 15 years of expansion
- VIDEO: Canadian Construction Association conference Panama preview
- Concerns raised about P3 approach for Saskatchewan schools
- Manitoba focuses on infrastructure spending in budget
- Journal of Commerce Preview for the week of March 10th, 2014
- Wood Design Awards
- Outgoing chair reflects on time at the helm of the CCA
- School board asks for traditional procurement
- Site Services in Vancouver
- Looking to improve contract awards
- Environmental verdict riles Taseko
- Prentice to mediate First Nations agreements
- CAWIC funded to create action plan to attract women
- More video surveillance used on construction sites
- Modular workforce housing meets Alberta Building Code standard
- Manitoba outlines infrastructure plan
- BC Hydro posts RFQ for Site C project