Area housing starts expected to rise
Edmonton Journal
Friday, November 01, 2013
A strong job market and heightened migration are boosting the Edmonton-region housing market, according to the Canada Mortgage and Housing Corp's Fall 2013 Housing Market Outlook.
Total housing starts in the Edmonton census metropolitan area are forecast to reach 13,900 units in 2013, up eight per cent from 2012. In 2014, housing starts are forecast to moderate to 12,200 units.
Residential MLS sales are forecast to total 18,600 in 2013, up five per cent over 2012. In 2014, MLS sales are forecast to rise two per cent to 19,000.
By year-end 2013, average resale MLS prices will reach $345,000, up three per cent over 2012. The CMHC forecasts the average MLS price will rise another two per cent in 2014 to $353,000, as balanced market conditions persist.
© Edmonton Journal 2013
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