Ontario housing market forecast

The latest Ontario housing forecast says resale and new home starts will continue to reach record levels through 2008. Canada Mortgage and Housing Corp. says demand for multi-family homes will be a key force in provincial housing activity.

CMHC predicts Ontario resale volumes will hit 214,350 this year and 206,250 units next year. CMHC also predicts prices for existing homes in Ontario will grow about 6.2 per cent this year and by about 3.3 per cent next year.