EDMONTON, ALBERTA--(Marketwire - Nov. 24, 2011) - Alberta's housing markets will be discussed today at Canada Mortgage and Housing Corporation's (CMHC) annual Edmonton Housing Outlook Conference. The event, held at the Delta Edmonton South, attracts more than 400 housing industry representatives to hear CMHC experts present on economic, demographic, and other factors impacting Alberta's major housing markets; namely Edmonton, Calgary, Wood Buffalo and Grande Prairie.

Following a moderation in 2011, housing starts across Alberta are expected to increase 15 per cent next year to 29,200 units, the highest level since 2007. "Rising migration levels, continued job growth, and low mortgage rates will help lift new home construction," said Lai Sing Louie, CMHC's Regional Economist for the Prairie and Territories Region. The number of MLS® sales in Alberta is projected to increase by nearly six per cent in 2011 to 52,800 units. Next year, provincial MLS® sales are projected to rise to 53,900 units.

Both the Edmonton and Calgary Census Metropolitan Areas (CMAs) will record lower housing starts this year before rising in 2012. Edmonton housing starts are forecast to increase 11 per cent next year to 10,100 units, the best performance since 2007. "Improvements will be reliant upon rising net migration, continued employment growth, lower new home inventories, and a more balanced resale market," noted Richard Goatcher, CMHC's Senior Market Analyst based in Edmonton. Similar factors will fuel a gain in Calgary housing starts in 2012. Total starts in Calgary are expected to increase 11 per cent next year, reaching 9,400 units.

MLS® sales in Edmonton and Calgary will experience gains in both 2011 and 2012. Given low mortgage rates, strong job growth, and increased net migration, sales in Edmonton will rise two per cent this year to 16,700 units, before increasing to 17,200 units in 2012. In Calgary, following a nearly six per cent gain in 2011 to 22,200 units, MLS® sales are anticipated to expand further next year to 22,700 units.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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.

For more information, visit www.cmhc.ca or call 1-800-668-2642.

Contact Information:

Media inquiries:
Rodney Neander
(403) 470-4211