Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 18, 2016 08:15 ET

Higher Housing Starts in Windsor in 2016

TORONTO, ONTARIO--(Marketwired - May 18, 2016) - Canada Mortgage and Housing Corporation (CMHC) released its Spring Housing Market Outlook report for Windsor CMA today. Housing starts in Windsor will be within the range of 1,100 and 1,350 units in 2016 and 1,150 to 1,450 units in 2017.

The average MLS® sale price in Windsor will fall within the range of $206,000 to $212,000 this year and $215,000 to $225,000 next year. Between 6,700 and 7,100 MLS® sales will occur in 2016 and 6,800 to 7,600 MLS® transactions are expected in 2017.

"A greater shortage of resale home listings will lead to higher housing starts in Windsor in 2016. New listings will grow far less than housing demand, which is expected to increase due to stronger population growth and higher employment. As a result, a greater number of buyers will turn to the new home market for their home this year," said Anthony Passarelli, CMHC Senior Market Analyst for Windsor CMA. "The resale market will continue to favour sellers and become tighter, causing stronger growth in the average MLS® sale price."

The national, regional and CMA HMO reports are available here.

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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.

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