Housing Marketing Prediction for 2012 by CMHC

(December 29, 2011 )

In 2011, Canada Mortgage Housing Corporation (CMHC) predicted price growth of just three per cent, tempered by an expectation of higher interest rates, but interest rates stayed low and prices ultimately jumped 16 to 17 per cent.

In 2012, CMHC predicts the market will stabilize and show modest growth in line with inflation. 
“I’d say it’s a pretty stable market out there. We’re not expecting to see a lot of change going forward,” said Robyn Adamache, senior market analyst with CMHC in Vancouver.

“We have seen the market moving to more balanced conditions over the past five or six months, and that’s expected to continue.”  Job growth and migration are expected to be the key factors driving the housing market, and this should continue into 2012.

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