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Housing market the focus of this week’s Canadian economic release

January 7, 2008 · Filed Under Market Trends

Canada’s economic data release schedule kicks into high gear starting on Wednesday of this week with housing starts for December followed by the new house price index and building permits for November on Thursday Forecast is that housing starts were lower in December as single-house starts likely unwound November’s 13.1% surge.

The new housing price index (NHPI) likely crept higher in November in line with an increase in the sales-to-new-listings ratio, an indicator of the supply and demand balance in the housing market. Building permits were likely down 2% in November with residential permits likely relatively flat, mirroring the behavior of housing starts, and non-residential permits likely to partially unwind October’s 19.1% surge.

Tags: building, house, housing