Posted by Moishe Alexander
Total housing starts in New Brunswick are expected to see a
moderate rebound to 3,525 units in 2010 following a decline to 3,400 units in 2009, according to
Canada Mortgage and Housing Corporation’s (CMHC) Housing Market Outlook released today.
“Following an expected reduction in MLS® sales and residential construction throughout 2009, a
moderate increase in activity is expected next year in New Brunswick,” said Claude Gautreau,
CMHC’s senior market analyst for New Brunswick. Although housing activity has diminished in
2009, economic fundamentals in the province remain strong, highlighted by historically high
employment levels. These conditions are expected to persist over the forecast period.
In New Brunswick’s three large urban areas – Saint John, Moncton and Fredericton – residential
starts will trail last year’s pace to the end of the year, followed by a moderate rebound in 2010.
The existing home market is expected to follow the same general trend with stronger price
growth next year and increased sales.
As Canada’s national housing agency, CMHC draws on more than 60 years of experience to
help Canadians access a variety of quality, environmentally sustainable and affordable homes.
CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and
knowledge to support and assist consumers and the housing industry in making vital decisions.