Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 30, 2014 08:15 ET

Steady Demand for Housing in Windsor

TORONTO, ONTARIO--(Marketwired - Oct. 30, 2014) - The Canada Mortgage and Housing Corporation (CMHC) released its Fall Housing Market Outlook report for the Windsor Census Metropolitan Area (CMA) today. Demand for new housing will increase with housing starts rising about two per cent in 2015 and nearly ten per cent in 2016. Sales of resale homes will increase through 2015, but decline in 2016. The resale home market will be balanced with modest price growth in both 2015 and 2016. The apartment vacancy rate will continue to decline.

"Increased employment, population growth and affordable prices will support housing demand in Windsor through 2015. However, rising mortgage carrying costs will cause demand to ease by 2016. Demand for rental accommodation will be supported by growing employment for young adults and immigration," said Erica McLerie, CMHC Senior Market Analyst.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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

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