Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 17, 2010 13:56 ET

Windsor's Housing Market to Stabilize in 2011

WINDSOR, ONTARIO--(Marketwire - Nov. 17, 2010) - Activity in the housing market in the Windsor Census Metropolitan Area (CMA) will increase this year before stabilizing in 2011, according to the latest forecast in the Windsor Housing Market Outlook released today by Canada Mortgage and Housing Corporation (CMHC). Reports are also available for other major metropolitan areas across the country.

Highlights of the Windsor Fall Housing Market Outlook report include:

  • The existing home market will remain balanced through next year as sales and prices stabilize.
  • Construction of single-detached homes in 2010 in the Windsor Census Metropolitan Area (CMA) will rise 38 per cent from the cyclical low in 2009. Moving into 2011, demand will stabilize.
  • Employment growth will level off in 2011.

"Stable prices and low borrowing rates will continue to support demand for housing in Windsor in 2011," said Margot Stevenson, CMHC's Windsor Market Analyst.

Trends in the Windsor CMA housing market generally mirror expectations for the rest of the province. "While Ontario home sales and prices have moderated since early this year, Ontario housing activity is now more in line with economic conditions. This ensures more stability in housing markets in the months ahead," said Ted Tsiakopoulos, CMHC's Ontario Regional Economist. "This transition in housing activity has been orderly thanks to improving job markets and historically low interest rates.", added Tsiakopoulos.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country. For more information, visit www.cmhc.ca or call 1 800 668-2642.

Contact Information

  • Windsor: Canada Mortgage and Housing Corporation
    Margot Stevenson
    (519) 873-2407
    mstevens@cmhc.ca
    or
    En francais: Canada Mortgage and Housing Corporation
    David Lan
    (519) 873-2426
    dlan@schl.ca
    or
    Ontario: Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc.ca
    or
    Canada: Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799
    csauriol@cmhc.ca
    www.cmhc.ca