The Canada Mortgage and Housing Corp. has augured that a rebounding economy, favorable borrowing conditions and healthy migration might trigger Quebec's housing markets this year and next.

Sales of existing homes in the province are speculated to cross the 86,000 benchmark this year and construction on above 47,300 new homes will be initiated, marking a nine per cent rise over last year, the CMHC posted yesterday.

"In addition to public spending on infrastructure projects," Kevin Hughes, regional economist at the CMHC, added, "both household spending and private investment started to grow again, while exports reacted positively to increased global demand."

He believes that Quebec Government's infrastructure spending has fueled the housing boom.

The Quebec economy is expected to register a growth rate over 2.6 per cent in 2010 and by three per cent in 2011. Growing migration to Quebec is also witnessed to pose a positive impact on the rental and resale markets.

Bertrand Recher, the federal housing agency's senior market analyst for Quebec, posited that existing home sales in the Montreal market should witness a record year, hoping 45,700 sales in 2010.