Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 14, 2012 08:15 ET

St. Catharines-Niagara Resale Market to Remain Balanced in 2012

TORONTO, ONTARIO--(Marketwire - June 14, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC) Spring Housing Market Outlook report for the St. Catharines-Niagara Census Metropolitan Area (CMA), existing homes sales and starts will be slower in 2012 and 2013 as compared to 2011. Market conditions will be balanced and existing home prices are forecast to increase at, or slightly above, the pace of inflation.

"A number of factors including migration patterns and slower employment growth will lead to lower levels of resale market activity in 2012 and 2013 compared to 2011," said Alexander Bonnyman, Market Analyst for St. Catharines-Niagara. "Although employment growth will slow, the quality of employment will improve as some part-time positions transition into full-time positions. The new home market will continue to benefit from an in-migration of retirees into the CMA. As a result, both high-end single-detached and townhomes will be strong segments of the new home market.

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.

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