Canada Mortgage and Housing Corporation



Canada Mortgage and Housing Corporation

February 06, 2014 08:26 ET

Housing Starts and Sales will Slow in Atlantic Canada

HALIFAX, NOVA SCOTIA--(Marketwired - Feb. 6, 2014) - According to Canada Mortgage and Housing Corporation's (CMHC's) Quarterly Housing Market Outlook - Atlantic report, housing starts in Atlantic Canada are expected to fall just under six per cent in 2014 with a similar decline of nearly six per cent in 2015. Slowing demand due in part to a moderate outlook for employment will result in fewer housing starts in both 2014 and 2015.

"Multiple-unit starts, including apartments, are forecast to decline ten per cent in 2014 and 13 per cent in 2015. Single starts are expected to fall 1.5 per cent in 2014, followed by a modest drop of less than one per cent in 2015," said Alex MacDonald, Regional Economist with CMHC's Atlantic Business Centre.

"In the existing home market, MLS® sales are forecast to decrease less than two per cent this year and 0.5 per cent next year. The average price of an existing home is forecast to rise 0.6 per cent in 2014 and just over one per cent in 2015," added MacDonald.

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 www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

Follow CMHC on Twitter @CMHC_ca.

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

Additional data is available upon request.

(Ce document existe également en français)

Contact Information

  • Market Analysis Contact:
    Alex MacDonald
    902-426-8964
    Cell: 902-483-9483
    amacdona@cmhc.ca

    Media Contact:
    Caroline Arsenault
    902-426-8127
    Cell: 902-452-4448
    cmarsena@cmhc.ca