The London area housing market will be fairly flat in 2013 but will still beat the provincial average, says a analyst with the Canada Mortgage and Housing Corporation (CMHC).
Speaking at the annual London Housing Outlook seminar, Alexander Bonnyman said a slow pickup in the US economy will pay off for London-area manufacturers and boost employment growth.
The resale market and the number of new housing starts in London-St. Thomas next year should be similar to 2012.
"London's housing market in 2013 will start at a slower pace but activity will pick up in the latter half of the year as employment responds to strengthening US demand," he said.
Bonnyman said cities such as London, Windsor, Sudbury and Thunder Bay will fare better than Toronto and Ottawa where the housing will slow down.
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