Tag Archives: Canada Mortgage and Housing Corporation

Canadian Housing Starts Increase: CMHC

Posted on April 13, 2012 | Leave a comment

According to the Canada Mortgage and Housing Corporation’s latest market figures, the seasonally adjusted annual rate of housing starts increased to 215,600 units in March, up from 205,300 in February.

The seasonally adjusted annual rate of urban starts also increased by over four per cent in March to 192,100 units, while rural starts hit about 23,500 units.

CMHC Housing Starts

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“The upward movement in March was largely due to an increase in multiple starts, particularly in Ontario and the Prairies,” said Mathieu Laberge, the deputy chief economist that Canada Mortgage and Housing Corporation’s market analysis centre. “This was partly offset by a decrease in multiple starts in British Columbia and Quebec, while single-detached starts decreased marginally country-wide.”

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Toronto Housing Market Will Remain Steady

Posted on November 3, 2011 | Leave a comment

 

According to the latest report by the Canada Mortgage and Housing Corporation, released today, the 2012 Toronto real estate market should remain on par with what we’ve seen this year as sales plateau, condominium construction continues to increase and price increases slow down.

“The market will feel somewhat slower than previous periods of high activity as buyers practice more restraint in light of slowing economic fundamentals,” said the senior market analyst for the Canada Mortgage and Housing Corporation in a press release. “Low interest rates will help keep a decent sales pace, but expect resistance to price increases as more supply enters the market.”

At the annual Canada Mortgage and Housing Corporation Toronto Housing Outlook Conference, the Canada Mortgage and Housing Corporation also announced a few highlights for its 2012 housing outlook:

As more baby boomers retire over the next few years, downsizing will become more popular as boomers look to smaller homes and condominiums.
Low vacancy rates will be alleviated by constant and strong condominium construction.
Homeownership will remain affordable as home buyers look to parts of the Greater Toronto Area that are less expensive.
Condominiums will become less expensive as more become available to buyers thanks to high condo construction.

 

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

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Posted in Before You Buy, Before You Sell, Market Information

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2010 Canadian Housing Observer Released

Posted on October 9, 2010 | Leave a comment

The annual Canada Mortgage and Housing Corporation publication, the Canadian Housing Observer, has been released for the year 2010. The publication offers a comprehensive review on new home construction, rental and sales or renovations of new and existing homes in Canada.

“The Canadian Housing Observer provides a comprehensive review of the critical role housing plays in the Canadian economy,” said Karen Kinsley, the president of the Canada Mortgage and Housing Corporation in a press release. “The Observer details the far-reaching impact of housing in generating economic activity and employment across sectors, and highlights how housing finance continues to be a cornerstone of Canada’s financial system.”

Some key findings in this year’s Observer include that the number of owner-occupied condominiums across Canada increased almost 40 percent from 2001 to 2006, that renovation spending reached $40.3 billion in 2009 growing by almost 3 per cent, and that Canada’s housing market is strong enough to survive recessionary periods because of consumer behaviour, regulatory oversight, government involvement and prudent financial industry practice.

This issue of the Observer looks into other aspects of housing in the last 10 years not previously covered in past issues like core housing need and sustainable community initiatives by the Government of Canada. The Canada Mortgage and Housing Corporation has also introduced a new online tool recently that provides custom data tables to users displaying various housing information.

The 2010 Canadian Housing Market Observer is available at this link: www.cmhc.ca/en/corp/about/cahoob/index.cfm

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Home renovation spending increased by $4.5 billion in 2009

Posted on June 13, 2010 | 1 Comment

The renovation hysteria that hit Canada in 2009 increased renovation spending by $4.5 billion according to survey data released by the Canada Mortgage and Housing Corporation.

The CMHC’s Renovation and Home Purchase Survey was released at the beginning of June and found that the average cost of each household’s renovations was around $12,000.

“More than $25.8 billion was spend on renovations in 2009 across the 10 major surveyed centres, and increase of about $4.5 billion compared to 2008,” said the senior economist at the CMHC. “As well, when Canadian homeowners were asked about their renovations for this year, 43 per cent indicated that they intend to spend $1,000 or more by the end of 2010.”

Toronto was one of those major urban centres, where the lowest number of respondents (five per cent) said that they had purchased a home in 2009. The same number of respondents across the board said they were intending to buy a home in 2010.

A total of 76 per cent of the households in major urban centres that underwent the renovations used their savings as opposed to credit, and a whopping 52 per cent renovated in order to sell their homes or add value.

The top three renovations across the country in were remodeling rooms, painting or wallpapering and new flooring, either hard wood or carpeting. St. John’s led the renovations with the highest number of households renovating for more than $1,000 at 59 per cent, while Montreal was the lowest number at only 45 per cent.

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