Real Estate — June 14, 2012

TORONTO, ONTARIO--(Marketwire - June 14, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC) Spring Housing Market Outlook report for the Kitchener-Cambridge-Waterloo (KCW) and Guelph Census Metropolitan Areas (CMAS), demand for resale homes will increase slightly in 2012 in both markets. In the new home market, starts will increase in KCW, but decline marginally in Guelph. Price growth will exceed the rate of inflation in 2012 in both CMAs.

"The resale home market will be relatively stable through 2012, with demand coming from repeat buyers, while apartment starts will boost new home construction in KCW", said Erica McLerie, CMHC Senior Market Analyst for the KCW and Guelph CMAs. "The most important determinants for ownership demand, mortgage rates and employment, are expected to remain almost unchanged in 2012, while population growth through in-migration will support housing demand."

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

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Contact Information

National Media Contact:
Kate Munroe
613-748-4618
kmunroe@cmhc.ca

Market Analysis Contact:
Erica McLerie
416-218-3318
emclerie@cmhc.ca

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