CMHC Says that House Prices will Continue to Rise in the Near Future. Employment, Immigration, and Low Mortgage Rates are Positive.

The Canada Mortgage and Housing Corporation says that house prices will continue to rise in the near future. The average price will probably level out in 2011 to an average of $367,500 and then rise to $372,400 in 2012. Factors such as employment, immigration, and low mortgage rates remain supportive for the housing sector as a whole.

CMHC also predicts relatively flat mortgage rates through 2011, and that they will moderately increase in 2012. Good news for mortgage borrowers over the next twelve months. Overall, housing starts are also expected to be strong, with 183,900 new builds predicted for the second quarter of 2012.

For anyone thinking of investing in real estate over the near-term, CMHC brings welcome news.

Happy Investing : )

Ottawa Housing Boom. Real Estate Investors and Home Owners in Ottawa are Experiencing Fast Rising Prices.

Ottawa is experiencing a housing boom and real estate investors have been making easy money in the condo market. First-time buyers are leading the way in purchases. 

"The Canada Mortgage and Housing Corporation says housing starts across the country are lagging but Ottawa boasts stronger employment numbers for people in their 20s. These are the people now looking to buy."

Numbers recently announced by the Canada Mortgage and Housing Corporation (CMHC) reveal that sales of town homes and condos are near record levels. In the last year, hosing starts have risen by more than forty percent, and there does not seem to be any sign of imminent decline. 

Ottawa has great earnings projections, increasing housing demand, and a stable employment market, all great trends for real estate investors and home owners. Especially good for developers will be the new light rail lines that should be completed in the near future. Real estate along the lines will be sought after by many of those who want to be close to the downtown core.

Drop me a line if you have any real estate or financial questions, 

Happy Investing : )