OTTAWA – Canada Mortgage and Housing Corp., the federal housing agency, says it expects the country’s housing markets to “moderate” over the next two years.
CMHC chief economist Bob Dugan says sharp gains in provinces like Ontario and B.C. have offset the slowdown in oil-producing provinces like Alberta.
MORE: The Great Canadian Housing Boom — latest coverage
However, that counterbalancing is expected to decrease over time. CMHC expects housing starts and sales through the Multiple Listing Service system to slow in 2016 and 2017.
House price growth is also expected to slow down.
Canada’s housing market has been helped by low interest rates in recent years.
WATCH: Hilliard MacBeth, financial advisor and author believes the Canadian real estate market sits on the brink of one of its biggest crashes ever.
Comments