Housing starts are expected to remain stable in 2014 and 2015 after a slowdown in 2013. 2014 is expected to see 187,300 units before moderating to 184,900 in 2015. Alberta, British Columbia and Quebec are forecasted to show gains, partially offsetting declines in other provinces. In 2015, housing starts will post a modest rebound in Manitoba and Quebec and all other provinces should see moderate housing starts.
• Existing home sales are expected to rise moderately the next two years, reaching 466,500 in 2014 and 474,700 in 2015.
• Mortgage rates will remain low by historical standards.
• Employment and income are both expected to increase modestly, which will support the housing market.
Data obtained from Canada Mortgage and Housing Corp.