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.”
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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.
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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).
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Subsequently, BMO Senior Economist Robert Kavcic said 2020 “will be a banner year for the Canadian housing market.”
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Reference: https://cutt.ly/IhwaSkN
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