CHMC Housing Market Report Toronto Fall 2012
Market at a Glance
– New home construction and resale activity will slow into the first half of next year, setting the stage for an improvement during the second half of 2013.
– New home construction starts will reach 37,600 units in 2013, including 10,100 singles and 27,500 multiples. New home sales will total 31,000 units.
– MLS sales will total 87,000 homes next year at an average price of $498,500.
– Slower employment growth in the coming months will keep the unemployment rate above eight per cent in 2013 and net migration below its 10-year average.
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