The data reflects"the pre-COVID-19 reality, which we are no longer in."In this undated stock photo, condo and apartment buildings are seen in Vancouver's Yaletown neighbourhood.
MONTREAL ― Much of the country’s regular springtime home-sales activity has been put on hold as Canada rides out the effects of the Home sales are projected to drop by half after sliding 14.3 per cent in March ― a number that only partly reflects the historic downward swing the market has seen, the Canadian Real Estate Association says.
“Numbers for March 2020 are a reflection of two very different realities, with most of the stronger sales and price growth recorded during the pre-COVID-19 reality which we are no longer in,” said Shaun Cathcart, senior economist for the Canadian Real Estate Association, in a statement Wednesday.“The numbers that matter most for understanding what follows are those from mid-March on, and things didn’t really start to ratchet down until week four.
In some markets, the situation as of early April appeared to be even worse, with data suggesting Toronto home sales were
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