Montreal real-estate market is coming in for a smooth landing this year and next with a moderate slowdown in both resale and new construction activity, the Canadian Mortgage and Housing Corp. said yesterday.
CMHC predicts fewer resale transactions in the greater Montreal region in 2008 and 2009 compared with record levels in 2007. But sellers will remain firmly in the driver's seat and prices will rise. Condominiums will be the only segment where the number of transactions are expected to remain stable as buyers seek affordable accommodation.
In the residential construction sector, housing starts are expected to fall but remain at historically strong rates.
