{"id":10798,"date":"2018-11-13T10:10:39","date_gmt":"2018-11-13T18:10:39","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10798"},"modified":"2018-11-06T15:00:01","modified_gmt":"2018-11-06T23:00:01","slug":"cmhc-housing-market-will-moderate-for-next-2-years-as-sales-price-decline","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/11\/cmhc-housing-market-will-moderate-for-next-2-years-as-sales-price-decline\/","title":{"rendered":"CMHC Housing Market will Moderate for Next 2 Years as Sales &#038; Price Decline"},"content":{"rendered":"<p style=\"text-align: justify;\">Home prices are forecast to range between $501,400 and $521,600.<\/p>\n<p style=\"text-align: justify;\">OTTAWA \u2014 Canada Mortgage and Housing Corp. says the country\u2019s real estate market is expected to moderate over the next two years as the growth in housing prices is expected to slow to more in line with economic fundamentals.<\/p>\n<p style=\"text-align: justify;\">In its 2018 housing market outlook released today, the national housing agency projects housing starts and sales are both expected to decline in 2019 and 2020.<\/p>\n<p style=\"text-align: justify;\">It predicts housing starts for single and multi-unit starts will fall to between 193,700 and 204,500 in 2019, while sales are anticipated to be between 478,400 and 497,400 units. Prices are anticipated to range between $501,400 and $521,600.<\/p>\n<p style=\"text-align: justify;\">CMHC says it expects economic indicators like income and employment to continue to help support demand for housing starts, but these fundamentals are anticipated to slow down to a more sustainable pace.<\/p>\n<p style=\"text-align: justify;\">Rising mortgage rates are also expected to affect housing demand and the resale market.<\/p>\n<p style=\"text-align: justify;\">By 2020, CMHC anticipates demand will continue to shift towards relatively less expensive housing options like apartment condominiums versus higher-end single-detached homes.<\/p>\n<p style=\"text-align: justify;\">\u201cOver our forecast horizon, housing starts are projected to decline from elevated levels recorded recently. Resales should also moderate while house prices are expected to reach levels that are more in line with the fundamentals,\u201d Bob Dugan, chief economist at the CMHC, said in a statement.<\/p>\n<p><a href=\"https:\/\/vancouversun.com\/real-estate\/cmhc-forecasts-moderation-in-canadian-housing-market-over-next-two-years\/wcm\/53697ebb-0065-4e51-85f7-750018f96956\" target=\"_blank\" rel=\"noopener\">CMHC Housing Market will Moderate for Next Two Years as Sales &amp; Price Decline<\/a> by The Canadian Press | Vancouver Sun<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home prices are forecast to range between $501,400 and $521,600. OTTAWA \u2014 Canada Mortgage and Housing Corp. says the country\u2019s real estate market is expected to moderate over the next &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/11\/cmhc-housing-market-will-moderate-for-next-2-years-as-sales-price-decline\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10798","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CMHC Housing Market will Moderate for Next 2 Years as Sales &amp; Price Decline &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/11\/cmhc-housing-market-will-moderate-for-next-2-years-as-sales-price-decline\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CMHC Housing Market will Moderate for Next 2 Years as Sales &amp; Price Decline &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Home prices are forecast to range between $501,400 and $521,600. 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