CMHC releases 2014 housing starts forecast

OTTAWA - Canada Mortgage and Housing Corp. is forecasting housing starts in Canada, on an annual basis, to range between 179,600 and 189,900 units in 2014.

The agency says in 2015, housing starts are expected to range from 163,000 to 203,200 units, with a point forecast of 183,100 units.

It says Multiple Listing Service sales are expected to range between 450,800 and 482,700 units in 2014.

CMHC says the average Multiple Listing Service price in 2014 is forecast to be between $394,700 and $405,700.

In 2015, the CMHC says Multiple Listing Service sales are expected to range from 455,800 to 502,900 units.

CMHC says the average Multiple Listing Service price in 2015 is forecast to be between $396,500 and $416,900.