Canadian Housing on Path to Recovery

The Canada Mortgage and Housing Corp. (CMHC) reported today that new housing starts in Canada have started to recovery and are expected to reach 141,900 this year, increasing to 164,900 in 2010. With respect to existing home sales, total sales are expected to reach 441,300 in 2009, while hitting 445,150 units in 2010, with average prices of $312,950 in 2009, and $324,500 in 2010.

The Canadian Press

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