Photo courtesy Canada Mortgage and Housing Corporation (CMHC)

Housing starts are once again rising across Canada.

After a slow beginning earlier in the year, housing starts have begun to rise across Canada, and will continue to grow in 2010. According to a fourth-quarter report by the Canada Mortgage and Housing Corporation (CMHC), house construction should reach 141,900 for 2009 and expand to 164,900 for next year. (In 2008, total housing starts were 211,056.)

"Demand for existing homes has rebounded since the beginning of the year," said Bob Dugan, CMHC's chief economist. "In addition, lower inventory levels characterize both the new and existing home markets. As a result, stronger housing demand will be reflected in higher levels of housing starts in 2010."

According to the Canadian Real Estate Association's (CREA's) Multiple Listing Service (MLS), existing home sales will reach 441,300 units in 2009 with an average price of $312,950; those numbers are expected to increase for the next year with 445,150 units and a price of $324,500.