Housing Starts and Sales in Atlantic Canada Stabilize

HALIFAX, NOVA SCOTIA--(Marketwired - Feb. 6, 2015) - According to Canada Mortgage and Housing Corporation's (CMHC's) Quarterly Housing Market Outlook - Atlantic report, housing starts in Atlantic Canada are expected to slow four per cent in 2015 and two per cent in 2016 after double digit declines reported in 2014.

"Moderate economic growth and net migration gains will stabilize housing starts and sales in Atlantic Canada in 2015 and 2016," said Alex MacDonald, Regional Economist with CMHC's Atlantic Business Centre. "Private sector investment and an improving economic outlook will support growth in house prices of one per cent by 2016 with relatively stable MLS^® sales activity," added MacDonald.

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 advice to Canadian governments, consumers and the housing industry.

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.

Follow CMHC on Twitter @CMHC_ca

MLS^® is a registered trademark of the Canadian Real Estate Association.

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