TORONTO, ONTARIO--(Marketwire - May 30, 2011) - The Canada Mortgage and Housing Corporation (CMHC) released its Spring Housing Market Outlook report for the Greater Toronto Area (GTA) today.
Highlights of the report include:
"Home sales are expected to cool over the next six to nine months as first-time buyers begin to pull back. However, the extended low interest rate environment will lead housing market activity in 2011 to come in stronger than originally anticipated," explains Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA.
"By next year, the recent strength in immigration and the creation of higher-paying full-time positions should add momentum back to the market," adds Hildebrand.
To view the graph "Toronto CMA Housing Starts", please visit the following link:
http://media3.marketwire.com/docs/tcmahse.pdf
As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable homes. 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.
Contact Information: