| | Thursday, February 11, 2010 Resale housing forecast extended to 2011by Karrie Brennan on Thu, Feb, 11, 2010 11:57 PM Chief Economist Gregory Klump. “The decline and subsequent rebound in sales activity for homes in the upper price spectrum in some of Canada's priciest markets skewed average prices upward in the second half of 2009 and into 2010. This segment of housing activity in Ontario and British Columbia is expected to ease beginning in the second half of 2010, causing average prices to moderate in those provinces,”
CREA Residential Market Forecast:
Residential unit sales forecast |
2009 |
2009 Annual percentage change |
2010 Forecast |
2010 Annual percentage change |
2011 Forecast |
2011 Annual percentage change |
|
Canada |
465,251 |
7.7 |
527,300 |
13.3 |
490,100 |
-7.1 |
|
British Columbia |
85,028 |
23.4 |
101,900 |
19.8 |
88,800 |
-12.9 |
|
Alberta |
57,786 |
2.5 |
63,050 |
9.1 |
64,000 |
1.5 |
|
Saskatchewan |
10,856 |
6.5 |
10,900 |
0.4 |
11,050 |
1.4 |
|
Manitoba |
13,086 |
-3.2 |
14,050 |
7.4 |
14,350 |
2.1 |
|
Ontario |
195,840 |
8.2 |
223,700 |
14.2 |
200,300 |
-10.5 |
|
Quebec |
79,290 |
3.3 |
87,950 |
10.9 |
85,450 |
-2.8 |
|
New Brunswick |
7,003 |
-7.3 |
7,550 |
7.8 |
7,700 |
2.0 |
|
Nova Scotia |
10,021 |
-7.8 |
11,400 |
13.8 |
11,500 |
0.9 |
|
Prince Edward Island |
1,404 |
-0.6 |
1,450 |
3.3 |
1,450 |
0.0 |
|
Newfoundland |
4,416 |
-5.9 |
4,900 |
11.0 |
5,050 |
3.1 |
|
Residential average price forecast |
2009 |
2009 Annual percentage change |
2010 Forecast |
2010 Annual percentage change |
2011 Forecast |
2011 Annual percentage change |
|
Canada |
320,333 |
5.0 |
337,500 |
5.4 |
332,400 |
-1.5 |
|
British Columbia |
465,725 |
2.4 |
485,500 |
4.2 |
476,600 |
-1.8 |
|
Alberta |
341,201 |
-3.3 |
357,300 |
4.7 |
361,700 |
1.2 |
|
Saskatchewan |
233,695 |
4.1 |
242,500 |
3.8 |
248,500 |
2.5 |
|
Manitoba |
201,343 |
5.8 |
210,300 |
4.4 |
215,300 |
2.4 |
|
Ontario |
318,366 |
5.3 |
332,700 |
4.5 |
326,000 |
-2.0 |
|
Quebec |
225,412 |
4.7 |
240,500 |
6.7 |
249,100 |
3.6 |
|
New Brunswick |
154,906 |
6.3 |
159,400 |
2.9 |
164,200 |
3.0 |
|
Nova Scotia |
196,690 |
3.6 |
200,900 |
2.1 |
204,700 |
1.9 |
|
Prince Edward Island |
146,044 |
4.4 |
149,900 |
2.6 |
153,200 |
2.2 |
|
Newfoundland |
206,374 |
15.6 |
222,300 |
7.7 |
238,900 |
7.5 |
NOTE: All statistics contained in this release are obtained through analysis of the MLS® Systems of real estate Boards across Canada.
MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.
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