Derek Layman-Remax Realty Specialists-St.John's NL

CMHC’s forecast for the local housing market:

! Total housing starts for 2009 between 1,475 and 1,725

! Total housing starts for 2010 between 1,525 and 1,850

! MLS sales between 3,200 and 3,700 for 2009

! MLS sales between 3,300 and 3,800 for 2010

! Average sale price between $187,500 and 198,500 for 2009

! Average sale price between $192,500 and $202,500 for 2010

! Vacancy rates expected at .5 to 1.5 range in 2009

! Vacancy rates expected to be 1.0 per cent to 2.0 per cent in 2010

! Two-bedroom rental rates running between $675 and $725 in

2009

! Two-bedroom rental rates running between $710 and $750 in

2010

! Condo sales and starts fluctuate, and amount to about 3.2 per

cent of MLS sales

! Prospective buyers prefer mid-priced neighbourhood condos