The Canadian Mortgage and Housing Corporation forecasts that home sales and new builds will remain steady or experience slight increases in 2015, according to a Financial Post report. The CMHC cites the improvement of Canada's economy and the eventual tempering of mortgage rates as major factors in this prediction.

Presently, the CMHC believes that the country's once-hot housing market is headed for a soft landing in 2014, with construction of new housing tailing off slightly and sales and average prices slowly increasing.

On Thursday, the CMHC released a report in which they forecasted new housing starts will range between 176,600 and 199,800 in 2014. They added that the final total would most likely be 187,300 units, which is a slight decrease from 2013's total of 187,923. This figure is slightly higher than their October 2013 point forecast of 184,700 starts.

For 2015, the CMHC noted that there will be between 163,200 and 206,600 new homes built in 2015, with a point forecast of 184,900.

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