TMCnet - World's Largest Communications and Technology Community



Kingston Housing Market Will Moderate in 2013
[November 09, 2012]

Kingston Housing Market Will Moderate in 2013

KINGSTON, ONTARIO, Nov 9, 2012 (Marketwire via COMTEX) -- Total housing starts within the Kingston Census Metropolitan Area (CMA) are expected to reach lower levels in 2013, according to Canada Mortgage and Housing Corporation's (CMHC) Fall Housing Market Outlook. This moderation from 2012 housing starts is a result of residential construction activity returning to levels consistent with household formation. In addition, the high number of rental units currently under construction will result in some developers scaling back apartment starts in the next year.

Sales of existing homes sold in 2012 will surpass the previous year's number, but will return to more modest levels in 2013 in Kingston. New mortgage rules and modest job prospects will reduce the number of first time home buyers.

Home prices in 2013 are expected to increase in line with the national inflation numbers. In 2012 the average price of a home sold in Kingston reached a record $269,200, which was up 2.8% from 2011.

"In 2013, the number of new listings is expected to outpace the number of sales within the existing home market, thus slowing price increases. However, relatively strong employment conditions, positive net migration and historically low mortgage rates will sustain housing market activity in Kingston," said Andrew Scott, CMHC`s Kingston Market Analyst.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at

(Ce document existe egalement en francais) FOR FURTHER INFORMATION PLEASE CONTACT: Andrew Scott Market Analyst 613-748-5129 Kingston (French): Sandra Perez Torres Senior Market Analyst 613-748-5120 National Media Contact: Beth Bailey Consultant, Communications and Marketing (416) 218-3355 SOURCE: Canada Mortgage and Housing Corporation

[ Back To's Homepage ]

Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2017 Technology Marketing Corporation. All rights reserved | Privacy Policy