2020 will be a “banner year” for canadian housing market
Thursday Dec 03rd, 2020
It’s safe to say that in light of all the repercussions of the pandemic, no one could have ever guessed that the Canadian housing market would be on pace to have a “banner year.”
Last month, national home sales dipped 0.7% in seasonally-adjusted terms, but they still managed to break another October record after soaring more than 32% year-over-year.
And if that wasn’t impressive enough, October home sales also beat the previous record for the month by over 14,000 transactions, according to a recent market report from the Canadian Real Estate Association (CREA).
Subsequently, BMO Senior Economist Robert Kavcic said 2020 “will be a banner year for the Canadian housing market.”