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By the end of the third quarter of 2020, home sales and average prices recovered beyond pre-pandemic levels, according to the CMHC.
OTTAWA, Ontario – After sustaining steep declines at the start of the pandemic, sales of existing homes in Canada’s biggest urban areas quickly rebounded beyond pre-pandemic levels, according to the Canada Mortgage and Housing Corporation (CMHC).
The CMHC’s recently released “Housing Market Insight: Canada’s Major Markets,” examines trends in existing home sales and prices during the COVID-19 pandemic in Calgary, Edmonton, Montreal, Ottawa, Toronto and Vancouver. It uses pre-COVID-19 activity recorded in the fourth quarter of 2019 as a benchmark to identify key drivers of recent sales and price changes.