Housing Forecasts Released

The Canada Mortgage and Housing Corporation says housing starts will remain moderate through 2016, but how does that compare with Chatham-Kent?

As it turns out, the Chatham-Kent Association of Realtors isn’t expecting any huge spikes either. “I haven’t seen anything and I don’t foresee anything major happening in Chatham, as far as drawing people in that is going to create too much of an increase,” says President Ron Smith. “I think we’re going to be very similar next year, from what we did this year.”

The CMHC expects housing starts to range between 172,800 and 204,000 units next year. That’s compared to the range of 186,300 and 191,700 in 2014.

Smith goes on to explain why the area doesn’t usually see huge spikes and dips that bigger cities like Toronto and Vancouver see. “A lot of people sell their homes in that area for a pretty good price, and then come down to the Chatham-Kent area and buy a lot more house for the money they spent.”