Housing Markets Remain Relatively Healthy in Hamilton and Brantford CMAs

TORONTO, ONTARIO--(Marketwire - Nov. 5, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC) Fall Housing Market Outlook report for the Hamilton and Brantford Census Metropolitan Areas (CMAs), demand for resale homes will moderate in late 2012 through the first half of 2013. Improving economic conditions and higher net migration will help stabilize housing markets in both Hamilton and Brantford CMAs by the second half of 2013. In the new home markets, residential construction activities will return to more sustainable levels in line with household formation.

"Even as existing home sales decrease in 2013, Hamilton and Brantford CMAs will still report more activity than the 20-year average sales of 10,800 units and 1,760 units respectively," said Abdul Kargbo, CMHC Senior Market Analyst for the Hamilton and Brantford CMAs. "The relative affordability of both the Hamilton and Brantford CMA housing markets will continue to encourage more people to move from neighbouring areas into the Hamilton and Brantford CMAs."

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. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

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