Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 14, 2012 08:15 ET

Housing Activity in New Brunswick to Decline

MONCTON, NEW BRUNSWICK--(Marketwire - June 14, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC's) Spring Housing Market Outlook - Saint John, Moncton and Fredericton report, total housing starts in New Brunswick's large urban centres are expected to decline in both 2012 and 2013.

"Residential construction in New Brunswick's three large urban centres is expected to produce fewer single and multiple starts in 2012, with a further, moderate decline in 2013 in response to slowing demand for new homes," said Claude Gautreau, CMHC's senior market analyst for New Brunswick. The reduction in construction activity will stem, in part, from limited economic growth and lower employment levels over the forecast period.

In the resale market, the overall trend for 2012 and 2013 will be similar to the new home market. "The relative strength of the resale market in New Brunswick's three large urban areas observed in recent years will be followed by declining sales and limited price growth this year and next," added Gautreau.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high 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 or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

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