Wednesday, October 31, 2007

A Strong Ontario Housing Market


Recent Ontario housing forecasts say resale and new home starts will continue to be in record territory through 2008.

CMHC predicts Ontario resale volumes will hit 214,350 for 2007 and reach 206, 250 for 2008. The hottest resale areas in Ontario, for 2008, will be London, Hamilton, Brantford and Sudbury with price gains exceeding the average for Ontario.

Ontario new home starts will improve from 67, 700 units in 2007 to a projected 68, 175 units in 2008.

London statistics for 2007 show a very strong housing market and this trend will continue for 2008. It is expected that the growth will be a little slower next year because of the increase in mortgage carrying costs but still exceeding the projected Ontario average of 3.3%.

If you would like more specific area information for London, including by housing type, I would be happy to answer your phone or email request. I can be reached at adam-mihm@coldwellbanker.ca or you can call 519-685-4190.

1 comment:

JunaidOracleDBA said...

Yeah very strong market in 2008.