TORONTO, ONTARIO--(Marketwire - Nov. 4, 2011) - Canada Mortgage and Housing Corporation (CMHC) released its Fall Housing Market Outlook report for the Peterborough Census Metropolitan Area (CMA) today. New home construction is expected to continue to decrease over the next two years and demand for smaller singles and townhouses will hold up on its current trend.
"While a challenging employment situation will continue to restrain housing demand, new residents coming from other parts of Ontario and low mortgage rates are expected to support housing activity," said Abdellah Massaoudi, CMHC Market Analyst for the Peterborough area. MLS® sales in the Peterborough CMA are expected to fall in both 2011 and 2012, while home prices are forecast to increase by two per cent in 2011 and remain flat in 2012.
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 http://www.cmhc.ca/housingmarketinformation.
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Contact Information:
Abdellah Massaoudi
(416) 218-3461
amassaou@cmhc.ca
www.cmhc.ca