Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 30, 2014 08:15 ET

Existing Home Sales Will Remain Strong in Hamilton and Recover in Brantford

TORONTO, ONTARIO--(Marketwired - Oct. 30, 2014) - According to Canada Mortgage and Housing Corporation's (CMHC) Fall Housing Market Outlook report for the Hamilton and Brantford Census Metropolitan Areas (CMAs), existing home sales will remain strong in Hamilton and recover in Brantford. Hamilton's housing starts will increase across all dwelling types in 2015, as job creation strengthens.

"A steady increase in the number of out-of-town buyers moving into Hamilton and Brantford will translate to relatively higher home sales in the next two years. Rising home prices in the Greater Toronto Area (GTA) coupled with a gradual increase in mortgage rates will make carrying a mortgage a greater challenge in 2016. Consequently, many buyers will turn to less expensive markets like Hamilton," said Abdul Kargbo, CMHC Senior Market Analyst for 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.

Follow CMHC on Twitter @CMHC_ca

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