Ben Nelms/Bloomberg

If you are sitting on the sidelines hoping for the condo market to crash, the Conference Board of Canada says you’ll have to wait.

The report, funded by Genworth Canada, the largest private provider of mortgage default insurance in the country, says the sector will avoid a major downturn because of population growth and employment gains which will drive demand and soak up supply.

“Whether it’s first-time homebuyers entering homeownership, empty-nesters looking to downsize or professionals seeking a shorter commute, condos appear to remain a popular option for urban Canadians,” said Brian Hurley, chief executive of Genworth Canada, in a release.

Continue to read on Financial Post