Canadian Housing to Rebound in 2010

CMHC is predicting a rebound in the Canadian housing market next year, according to the Financial Post.

The article is specific to new home construction, so it doesn’t tell the whole story…but the more people buy existing homes, the more new homes will be needed, so they are related.

This isn’t terribly surprising, but it is good news. Out here in Edmonton, Alberta, it seems as thought we’ve already rebounded. According to the Edmonton Real Estate blog the number of sales last month are well ahead of 2008 numbers.

New home starts will likely be stronger if interest rates don’t go up too quickly.