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Canadian housing market to soften more than previously thought: CMHC
OTTAWA ` Canada Mortgage and Housing Corp. says the market for existing homes will be softer this year than previously forecast, although the mid-point price will continue to rise from where it was in 2011.
The Crown corporation`s latest quarterly outlook calls for up to 465,600 units of existing housing to be sold this year. That`s about 20,000 units fewer than the comparable number in CMHC`s previous outlook in August.
The mid-point price for sales of pre-existing housing is now anticipated to be $365,100 this year, about $3,000 lower than in the summer quarterly outlook.
Read the full article here.
OTTAWA ` Canada Mortgage and Housing Corp. says the market for existing homes will be softer this year than previously forecast, although the mid-point price will continue to rise from where it was in 2011.
The Crown corporation`s latest quarterly outlook calls for up to 465,600 units of existing housing to be sold this year. That`s about 20,000 units fewer than the comparable number in CMHC`s previous outlook in August.
The mid-point price for sales of pre-existing housing is now anticipated to be $365,100 this year, about $3,000 lower than in the summer quarterly outlook.
Read the full article here.