November 15, 2012:
Canada Mortgage and Housing Corporation (CMHC) announced that activity in existing home market expected to stabilize, causing house price growth to fall in line with or slightly below inflation. Housing Starts are also expected to moderate in the last quarter of 2012 and going into 2013.
Existing home sales are expected to be in the range of 449,200 to 465,600 units to end 2012 and MLS® sales are expected to reach between 433,300 to 489,700 units for 2013. Additionally, the forecasted average MLS® price is expected to represent a 0.2 percent growth, reaching $365,100 for 2012 and to $370,500 for 2013, representing a 1.5 percent growth in price.
All Points recommends that companies review their existing policies and make them ready for soft real estate markets in some parts of the country.
This Relo-lert is intended for informational use only. If you have any questions regarding the impact of this information on your organization, please do not hesitate to contact All Points Relocation at [email protected].