Thunder Bay continues to be a sellers market for homeowners, according to the spring outlook by Canada Mortgage and Housing Corporation.
CMHC market analyst Warren Philp says local home prices will rise 6.4 per cent in 2013, as the shortage of listings continues.
That shortage means the number of homes being resold is expected to fall by about five per cent this year.
Philp says employment growth and in-migration to the region are contributing factors.
Meanwhile, housing starts are also something to watch this year. The CMHC estimates there will be about 230 single-detached housing starts in both 2013 and 2014.
