Stable housing market predicted in 2009

CMHCs housing market outlook for 2009 is discussed in a Calgary Herald article at this link. I previously discussed this report on my podcast and have linked to the original report here.

One result will be the end of the current buyers’ market.

The average resale home price will be $406,000, the federal agency predicts, barely above the anticipated 2008 price of $405,000 and down almost two per cent from $414,000 in 2007.