Home > real-estate > How accurate is CMHC Forecast on Canada’s housing market?

How accurate is CMHC Forecast on Canada’s housing market?

… not very good, at least for 2009… it has been bang on for the first quarter of 2010!

CMHC – Canada Mortgage & Housing Corporation publishes its Housing Market Outlook quarterly with forecasts of housing starts, house prices, resales, etc. For 2009, it changed the forecast every quarter starting from Q3 2008 to Q4 of 2009 and… still got it wrong!

Accuracy of forecast housing outlook by CMHC

Source: CMHC

CMHC is Canada government owned National Housing Agency & currently holds about 30% of outstanding residential mortgages…

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