in 2009 before showing a modest recovery in 2010, according to Canada Mortgage and Housing Corporation's (CMHC) semi-annual Hamilton and Brantford Housing Market Outlook report released today.

Highlights of the forecast include:

�� Total housing starts in Hamilton will decline 29 per cent, and a growing proportion will be townhouses and apartments. The decline will be less pronounced in Brantford. About half of Hamilton home starts will occur in Burlington.

�� Sales of existing homes in Hamilton will be down 21 per cent, while in Brantford, sales will be down 29 per cent. More expensive submarkets like Ancaster and Flamborough will experience the largest sales declines.

�� The average resale price will be down about five per cent in both Hamilton and Brantford. More sales of lower-priced homes will pull down the average price. ‘'Lower mortgage rates and prices have created an opportunity for first-time buyers,'' noted Sarah Fong, CHMC's Senior Market Analyst for Hamilton. "For renters, home ownership is again as accessible as it was in 1996 before the decade long run-up in housing prices."

Canada Mortgage and Housing Corporation (CMHC) has been Canada's national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country.

For more information,visit http://www.cmhc.ca/housingmarketinformation/ or call 1-800-668-2642.