CMHC Spring 2008 Report

Canada Mortgage and Housing this week released their Spring 2008 report on housing in the GTA. While I encourage you to read the whole thing, here are a few key messages.

Home prices remain strong for Toronto, with the expectation that the average home price will cross the $400,000 level. They are not forcasting any market correction, although there outlook is quite modest at 4.5% price growth for 2008.

Looking at the volume of sales, it is expected to remain at levels above the ten-year average number of sales, but below the peak number of sales experienced in 2007.
Within this, there are always neighbourhoods that are far stronger or weeker than these average numbers.

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