The Market at a Glance
Resale market activity will hold steady in 2012. Sales will remain close to previous years with a total of 88,500 transactions, while prices will remain fairly flat with annual growth of one per cent.
New home construction will stay elevated next year at 35,000 units on the strength of condominium apartment construction. New home sales will moderate to 33,500 units in 2012.
Total employment will see little growth next year amidst a slowing global economy. The unemployment rate will remain above eight per cent and net migration will stay muted at 64,500.