Housing Markets Remain Steady Through 2012

TORONTO, ONTARIO--(Marketwire - June 14, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC) Spring Housing Market Outlook report for the Hamilton and Brantford Census Metropolitan Areas (CMAs), demand for resale homes will remain relatively unchanged in 2012 in both markets, supported by in-migration from neighbouring areas. In the new home market, the rising price of single-detached homes and limited land supply in some areas will result in more higher-density home starts.

"Despite some stalling in some parts of the local job markets, buyers coming from the more expensive surrounding areas will keep the new and resale home markets relatively stable through 2013," said Sarah Fong, CMHC Senior Market Analyst for the Hamilton and Brantford CMAs. "The relative affordability of both the Hamilton and Brantford CMA markets is the key factor that is driving demand."

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 http://www.cmhc.ca/housingmarketinformation.

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