Strong Housing Market | Evelyn Lopes Realty Team_Blog

Monday, November 9, 2020   /   by Evelyn Lopes

The New Normal: A Strong Housing Market Expected to Continue into 2021

The New Normal: A Strong Housing Market Expected to Continue into 2021

Circumstances like a once-in-a-hundred-years pandemic and historic inventory shortages might have made you assume that the housing market would lose steam, but there is plenty of evidence to the contrary. As Canadian Real Estate Association (CREA) senior economist, Shaun Cathcart noted, “records [are continually] being broken” in the residential property market.1
 
Indeed, rather than a slowdown, we are continuing to experience a surprisingly robust real estate market across the country. And experts estimate that these conditions are likely to last into the new year. TD Bank Group Economist Rishi Sondhi predicts that high home prices will persist for the rest of 2020.2
 
Market conditions like fewer available listings, changing criteria for desired homes, and record-low mortgage rates are changing the way people buy and sell homes, most likely in a lasting way. But this sustained acti8 ...

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