Easing Demand for Housing in St. Catharines-Niagara

TORONTO, ONTARIO--(Marketwired - June 25, 2013) - The Canada Mortgage and Housing Corporation (CMHC) released its Spring Housing Market Outlook report for the St. Catharines-Niagara Census Metropolitan Area (CMA) today.

Demand for resale homes will ease in 2013. Prices in the resale home market will show a slight increase in 2013. Housing starts will decline.

"Both the resale market and new home market will experience a slowdown in 2013. However, rising employment and earnings combined with continued in-migration will support some recovery in housing demand in 2014," said Erica McLerie, CMHC Senior Market Analyst.

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.

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