Hot Off The Press ~ CMHC's Spring 2012 Housing Market Forecast has Positive Growth for Kelowna!
By Jaime Briggs, Kelowna Real Estate
June 14, 2012
The Canada Mortgage and Housing Corporation has just released it's Spring 2012 forecast for Kelowna and it looks positive!
Here are some of their highlights:
- Stronger employment growth coupled with favourable interest rates will support demand for housing in Kelowna in 2012 and 2013.
- MLS home sales are expected to increase eight per cent this year and 14 per cent in 2013. Buyers will continue to benefit from an ample supply of listings and strong price competition among sellers.
- Existing home prices are forecast to be stable in 2012. Expect prices to edge higher, increasing two per cent in 2013 as demand improves and the supply of listings is drawn down.
- Kelowna area housing starts are forecast as 850 homes in 2012 compared to 934 homes in 2011. Housing starts are expected to pick up, increasing to 1,150 homes in 2013.
To read the full story, download the .pdf document below.