According to the latest Housing Market Outlook from the Canada Mortgage and Housing Corporation (CMHC), 2015 housing starts are forecast to hold steady with starts in 2014. Based on economic and demographic trends, housing starts are expected to reach an average of 189,000 units in 2014. For 2015, housing starts are forecast at 189,500 units.

In 2016, however, the CMHC calls for a slight moderation in multi-unit starts.

“The trend for housing starts has been up in recent months, particularly in multi-unit structures,” says Bob Dugan, Chief Economist for CMHC. “This has been broadly supported by key factors such as employment, disposable income and net migration, which are expected to continue to be supportive of the Canadian housing market over the 2014-2016 forecast horizon.”

Multiple Listing Service (MLS) sales will also remain relatively stable with 2014 forecasts, according to the CMHC. Approximately 476,100 units are expected to sell by the end of 2014 and, in 2015, 482,500 units are forecasted to sell.