OTTAWA - Canada's national housing agency says the pace of new-home construction will stabilize in 2011 and 2012 after trending lower in the last half of last year.
Canada Mortgage and Housing Corp.'s most recent outlook predicts between 157,000 and 192,000 new housing units will be built this year.
It says that number will remain virtually the same in 2012.
It adds that economic growth, lower unemployment and relatively low mortgage rates will support the demand for new homes.
The corporation says existing home sales are set remain in the balanced to sellers' market range this year and next.
It also says home listing prices should keep pace with increases in inflation.
