2010 Canadian Housing Observer Released

The annual Canada Mortgage and Housing Corporation publication, the Canadian Housing Observer, has been released for the year 2010. The publication offers a comprehensive review on new home construction, rental and sales or renovations of new and existing homes in Canada.

“The Canadian Housing Observer provides a comprehensive review of the critical role housing plays in the Canadian economy,” said Karen Kinsley, the president of the Canada Mortgage and Housing Corporation in a press release. “The Observer details the far-reaching impact of housing in generating economic activity and employment across sectors, and highlights how housing finance continues to be a cornerstone of Canada’s financial system.”

Some key findings in this year’s Observer include that the number of owner-occupied condominiums across Canada increased almost 40 percent from 2001 to 2006, that renovation spending reached $40.3 billion in 2009 growing by almost 3 per cent, and that Canada’s housing market is strong enough to survive recessionary periods because of consumer behaviour, regulatory oversight, government involvement and prudent financial industry practice.

This issue of the Observer looks into other aspects of housing in the last 10 years not previously covered in past issues like core housing need and sustainable community initiatives by the Government of Canada. The Canada Mortgage and Housing Corporation has also introduced a new online tool recently that provides custom data tables to users displaying various housing information.

The 2010 Canadian Housing Market Observer is available at this link: www.cmhc.ca/en/corp/about/cahoob/index.cfm

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