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October 28, 2017 1:51 am

CMHC Predicts ‘Stable’ Housing Market

Tuesday, October 27, 2015 @ 3:50 AM

Prince George, B.C.- Canada Mortgage and Housing is predicting housing starts  in B.C. to  remain  stable over the next two years.In its  report for 2016 and 2017,  CMHC’s Regional Economist Carol Frketich  says“Demand for new homes in the province will be supported by employment, population growth and low mortgage interest rates.”   She adds that  multiple-family homes will account for about two-thirds of housing starts “Some moderation in demand for new single-detached homes is expected as mortgage interest rates rise later in the forecast period.”

According to CMHC, prices are expected to rise in most British Columbia housing markets as resale markets are forecast to remain active and sellers’ resale market conditions are expected to prevail.


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