sales are "still strong"

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House prices are going to go up next year, albeit by a mere $200, according to Canada Mortgage and Housing Corp.
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% N: e: A" H5 f( h5 uThe Crown corporation warned that some moderation can be expected in the once red-hot housing sector for the rest of this year and into 2009.
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" d- E4 x  e& c5 _5 c4 LThe forecast comes as house prices have been falling nationally, according to the Canadian Real Estate Association. Canada's largest housing markets have experienced prices declines from a year ago for four straight months, with each percentage drop bigger than the next.
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Now CMHC has waded into the debate with its own forecast that despite the recent trend, home sale prices should edge up this year.

It expects the average price of a home sold to rise to $306,500 from $305,707. By next year the average sale price is forecast to rise to $306,700.

! i7 O7 e/ Q/ {: O: c"High employment levels, rising incomes and low mortgage rates have continued to provide a solid foundation for healthy housing markets this year," said Bob Dugan.
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However, CMHC is clearly predicting a pullback and titled its latest report, "Housing market starting to ease."
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' ~. ^2 ]+ {* m" [It says for the first time in seven years the number of new homes built across the country will dip below 200,000.

0 `4 k1 s+ U4 j- ?" x, GThe agency is forecasting 212,188 starts for this year which will be a drop from the 228,343 homes built in 2007. By 2009, the forecast is for 177,975 new homes to be built.
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# g9 x7 M$ t) f7 Z# o) m  nThe prognosis is not much better for the sales of existing homes. After setting an all-time sales record of 523,701 transactions in 2007, sales are expected to drop to 452,225 in 2008 and 433,375 in 2009.
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9 u; Q* ~% z- Z/ C4 s1 KCMHC says those sales are "still strong" by historical standards.

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