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House prices in Canada’s largest cities expected to drop amid ‘severe declines’ in sales, construction: CMHC
COVID-19 levels. CMHC says the market likely won’t see a return to pre-pandemic levels before the end of 2022.Average home prices in Toronto, Montreal and Ottawa are expected to rebound sooner, starting in late 2020 and rolling into early 2021.[ Sign up for our Health IQ newsletter for the latest coronavirus updates ]Prices in Vancouver, Edmonton and Calgary likely won’t rebound until later in the forecast period, it added.