HALIFAX, NOVA SCOTIA--(Marketwired - May 25, 2015) - According to Canada Mortgage and Housing Corporation's (CMHC's) Quarterly Housing Market Outlook - Atlantic report, housing starts in Atlantic Canada are expected to decline moderately in both 2015 and 2016, and be in the range of 6,960 to 7,820 units and, 6,620 to 7,590 units respectively

"Private sector investment in energy-related projects is expected to help stabilize economic growth in the region. Downside risks, however, have increased since the previous forecast because of recent declines in commodity prices," said Alex MacDonald, Regional Economist with CMHC's Atlantic Business Centre. "Although housing starts are not expected to increase in 2015 or 2016, a relatively stable outlook for MLS^® sales by 2016 will support a modest gain in house prices of one per cent," added MacDonald.

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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.

MLS^® is a registered trademark of the Canadian Real Estate Association.

Additional data is available upon request.

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