The latest figures from the Canada Mortgage and Housing Corporation support the frequently-heard forecast that the market is heading for a soft landing.
The third quarter Housing Market Outlook says that economic and demographic fundamentals will continue to support housing activity into 2015. The report predicts a reduction in housing starts with builders reducing inventory instead.
On prices, CMHC expects 4.5 per cent growth in the average MLS price for 2014 with a more modest 1.8 per cent next year, while MLS sales volume is expected to continue growth.
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