The Canada Mortgage and Housing Corporation has released its outlook for the rest of 2012 and 2013.

They expect housing market activity to continue to moderate over the end quarter of 2012 and remain steady during 2013. Average house price growth is expected to remain slightly below or in line with inflation.

“A weaker outlook for global economic conditions and the waning of the effect of pre-sales from late 2012 and early 2011, which contributed to support multi-family starts this year, will bring moderation in housing starts next year,” said Mathieu Laberge, the deputy chief economic for the Canada Mortgage and Housing Corporation. “Nevertheless, employment growth and net migration will help support housing starts activity going forward.”

Housing starts will be between 210,800 to 216,600 for the whole of 2012, while in 2013 housing starts are predicted to be between 177,300 to 209,900 units.

The full press release and Market Outlook is available here.

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