Housing Markets to Stabilize in Kitchener-Guelph

TORONTO, ONTARIO--(Marketwire - Nov. 4, 2011) - The Canada Mortgage and Housing Corporation (CMHC) released its Fall Housing Market Outlook report for the Kitchener-Cambridge-Waterloo and Guelph Census Metropolitan Areas (CMAs) today. Demand for resale homes will increase slightly in both markets in 2012. In the new home market, starts will decline slightly in Kitchener but increase marginally in Guelph. Both CMAs will see slight price growth in 2012.

"The housing markets in both Kitchener and Guelph have stabilized somewhat in 2011 and this will continue through 2012. Overall existing home sales in 2012 will be little changed from 2011 levels, as the impact on demand of a slowing economy is offset by low mortgage rates," said Erica McLerie, CMHC Senior Market Analyst for the Kitchener CMA.

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.

For a detailed analysis of the Kitchener and Guelph Housing Market Outlook, please register for CMHC's Kitchener Housing Outlook Seminar, on November 15, 2011. For more information on presentations and registration, visit www.cmhc.ca/conferenceregistration.