In-migration and low mortgage rates will lend
strength to the housing market this year and next. Residential construction is expected
to rebound in 2010 following declines in 2009, according to Canada Mortgage and
Housing Corporation’s (CMHC’s) Housing Market Outlook released today.
“Single starts in Charlottetown are expected to record an increase in 2010, while
multiple starts will slow slightly from the near record level of activity in 2009,” said Jason
Beaton, market analyst with CMHC in Prince Edward Island. Positive in-migration and
low interest rates will be supportive of housing demand in both 2009 and 2010. As a
result housing starts are expected to remain strong into 2010. Single-detached
construction will reach 275 units in 2010, while multiples construction will slow to 240
units.
Existing home sales are expected to decline this year before rebounding slightly in 2010.
Expect to see 550 units sell in 2009 and 575 units in 2010. The average price of an
existing home is expected to climb to $186,000 by the end of next year.
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.

Welcome to the HomeZilla Real Estate Trends. As in previous months, we list the most searched provinces, top 10 most searched cities and top 10 most searched amenities.

HomeZilla’s Most Searched Provinces

1			Ontario
2			British Columbia
3	(+1)		Nova Scotia
4	(-1)		Alberta
5			Manitoba
6	(+1)		New Brunswick
7	(-1)		Quebec
8	(+2)		Newfoundland
9	(-1)		Saskatchewan
10	(-1)		Prince Edward Island

HomeZilla’s Most Searched Cities

1			Toronto
2	(+1)		Ottawa
3	(+1)		Mississauga
4	(-2)		Vancouver
5	(-)		Quesnel
6	(-)		Oshawa
7	(-2)		Calgary
8			Brampton
9	(-)		Winnipeg
10	(-)		Whitby

HomeZilla’s Most Searched Amenities

1			Schools
2	(-)		elementary schools
3	(-1)		grocery stores
4	(+3)		child care services
5	(-1)		coffee shops
6	(-)		high schools
7	(+2)		banks
8	(-3)		pubs
9	(-6)		parks
10	(-)		jr high schools

We hope you enjoy these March 2009 real estate trends and we look forward to your feedback!

Interesting report added by Moishe Alexander, CFC CEO