Stable Housing Demand in Kitchener-Guelph

TORONTO, ONTARIO--(Marketwired - Oct. 31, 2013) - Canada Mortgage and Housing Corporation (CMHC) released its Fall Housing Market Outlook report for the Kitchener-Cambridge-Waterloo (KCW) and Guelph Census Metropolitan Areas (CMAs) today. The existing home markets in both CMAs will remain fairly tight into the first half of 2014. As a result, the level of new home construction next year will be greater in Kitchener-Cambridge-Waterloo and relatively unchanged in Guelph.

"Homeownership demand will begin to ease in the latter half of 2014, as mortgage rates are expected to edge higher. At that point demand for rental accommodation will increase with the aid of employment growth", said Anthony Passarelli, CMHC Market Analyst for the Kitchener-Cambridge-Waterloo (KCW) and Guelph CMAs.

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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