VICTORIA The latest report from the Canada Mortgage and Housing Corporation (CMHC) shows that despite the pandemic, the Victoria real estate market remains hot. The report for the third quarter of 2020 indicates that sales in the region have been trending upwards since the height of the COVID-19 lockdown in March and April. Reported sales of single-family detached homes from July to September surpassed sales in the same period in 2019 and 2018. “The third quarter not only surpassed the same level last year but it is gearing towards the peak year in 2016,” said CMHC senior analyst Pershing Sun. “We see this ‘heat’ in the market partially because of a low and stable mortgage environment.”
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