Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 26, 2015 08:15 ET

CMHC Forecasts Atlantic Canada Housing Starts to Moderate in 2016 and 2017

HALIFAX, NOVA SCOTIA--(Marketwired - Oct. 26, 2015) - Housing starts are expected to decline moderately in Atlantic Canada, ranging from 5,850 to 7,800 units in 2016 and, 5,550 to 8,150 units in 2017, according to Canada Mortgage and Housing Corporation's (CMHC) Quarterly Housing Market Outlook.

"Private sector energy projects are expected to help stabilize economic growth in the region but housing construction is not expected to increase significantly in 2016 nor 2017," said Alex MacDonald, CMHC Regional Economist. "At the same time, an improving economic outlook over the forecast period will support modest gains in house prices and stability of sales," 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.

Additional data is available upon request.

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