November 2nd, 2016
Housing Market Outlook - Barrie, Fall 2016
The CMHC (Canada Mortgage and Housing Corporation) has released it's quarterly Housing Market Outlook Report for Barrie. Here are the Highlights:
- Housing starts will rise sharply in 2016 to between 1,450 and 1,600 units due to a jump in starts of multiple units
- Total housing starts will inch down slightly in 2017 before increasing moderately in 2018
- MLS sales will rise sharply in 2016 to annual sales that range between 5,500 and 5,900 before stabilizing in 2017 and 2018
- A tight resale market will put more upward pressure on the average MLS price in 2016 and this trend will continue in 2017 and 2018, but at a slower pace
- Barrie's apartment vacancy rate will start rising over the forecast period, mainly due to a high number of apartment completions.
To read the full report, click here
