Declining economic output and employment rates curbed growth in 2013, limiting demand for condos. Though with an improving economy, modest improvement is expected for 2014, lifting sales by about 2 per cent. Active condo listings dropped 9.5 per cent in 2013 and the report suggests a further 15 per cent drop is on the horizon for 2014 as sellers remain wary. As the market tightens, the median price should rise nearly 3 per cent. Condominium starts fell 16 per cent to 513 units in 2013 and are forecast to rise only slightly in 2014. Modest increases are expected between 2015 and the end of the forecast in 2018. But even then, starts are predicted to remain less than half of peak levels.
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