According to CMHC’s fourth quarter 2014 Housing Market Outlook, Canada Edition, housing starts in 2015 will remain similar to levels observed in 2014 and in line with economic and demographic trends. By 2016, some moderation is expected.
Sales of newly built, single-family homes inched up 0.2 percent in September to a seasonally adjusted annual rate of 467,000 units, the highest level in six years, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Sales numbers for August were revised down from 504,000 to 466,000.
The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) reclaimed the high-water mark of 57 in the third quarter of 2014. This is the sixth consecutive quarter for an RMI reading above 50.
According to CMHC’s third quarter 2014 Housing Market Outlook, Canada Edition, housing activity will continue to be supported by economic and demographic fundamentals for the rest of 2014 and into 2015.
Source: CMHC The vacancy rate for standard spaces, which dominate seniors’ residences in Canada, decreased slightly over the past year, reaching 9.7 per cent in 2014, compared to 10.3 per cent in 2013, according to the Seniors’ Housing Report – Canada Highlights edition released by Canada Mortgage and Housing Corporation.
Source: Housingwire Realtors expect home prices to continue to appreciate over the next year, with a median price increase expected of 4% over the next 12 months, according to the latest survey of the National Association of Realtors in their confidence index.
Declines in both single- and multifamily starts pushed nationwide housing production down 6.5 percent in May to a seasonally adjusted annual rate of just over 1 million units, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. However, single-family permits, which can be an indicator of future building activity, rose 3.7 percent.
Housing starts in Canada were trending at 184,438 units in May compared to 183,872 in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
Source: National Association of Realtors Pending home sales improved for the second straight month in April, according to the National Association of Realtors®. Gains in the Midwest and Northeast offset declines in the West and South.
Production of apartments and condominiums showed positive growth in the first quarter of 2014, according to the latest Multifamily Production Index (MPI), released today by the National Association of Home Builders (NAHB). The index increased three points to 53, which is the ninth consecutive quarter with a reading of 50 or above.
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