Many prospective homebuyers in Canada’s priciest markets are wondering whether the economic crisis triggered by the COVID-19 pandemic comes with a silver lining for them.
Will this, perhaps, be their chance to finally step on the property ladder? The answer, according to housing-market watchers, is both complicated and shrouded in uncertainty.
If you look at them from a bird’s eye view, Canada’s residential real estate prices currently seem frozen in time. The national average home price edged down just 1.3 per cent in April compared to the same month last year, the Canadian Real Estate Association (CREA) said Friday.