A couple weeks ago the Canadian Mortgage Housing Corporation held its Housing Outlook Conference for 2013.  I must say I always found the “doom and gloom” condo market the media portrayed as extreme.  There were 3 key messages coming from the GTA Condo Market Outlook:

1.   The condo market is slowing but will stabilize

2. The longer term risk to prices is greater but remains balanced

3. Longer-term investors will remain active buyers of pre-construction

Shaun Hildebrand CMHC GTA Senior Market Analyst Final Thoughts:

– Condo prices will experience only a mild correction in the near-term.  Weakness may be isolated to a few areas of the market.

– Supply pressures will increase in the years ahead.  Market will continue to be supported by affordability advantage and increasing demand for rental.

– New development will continue to adjust to changing market conditions.  Investors will continue to significant source of pre-sales.

This is the short of it for the condo market, but I will post more information regarding the 2013 Housing Market Outlook in the coming days/weeks.  Stay tuned!