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Industry News

 But the latest quarterly forecast sees builders curbing their enthusiasm for more speculative construction aiming to tailor starts to more to demand, particularly in the overbuilt condo market.
 
“Builders are expected to continue to manage their starts activity in order to ensure that demand from buyers seeking new condominium units is first channeled toward unsold completed units or unsold units that are currently under construction,” said the agency’s Deputy Chief Economist Mathieu Laberge.
 
CMHC predicts the average home price will rise 3.5% to $396,000 this year, and 1.6% to $402,200 in 2015.
 
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