CMHC revises 2010 and 2011 Resale House price forecast… yet again
CMHC released its quarterly housing forecast today and has changed for the 6th time, the forecast for 2010 average resale house prices!
Here is a chart showing the forecast for 2010 average resale price… the first forecast in Jan 2009 was for resale house prices in Canada to average $288100… compare that to the most recent forecast of $338900. (note the standard deviation of the forecast is $25500!)
CMHC expects resale house prices to increase in 2011
For 2011, the forecast hasn’t changed as the market conditions demand…CMHC still expects house prices to increase 1% in 2011… notwithstanding the fact that house prices have dropped about 5% the past 2 months…
|Forecast Date||2011 Forecast Resale Price|