BUSINESS
04/06/2020 12:25 EDT | Updated 04/06/2020 12:38 EDT

What Is Going On With Canadian Real Estate In The Pandemic?

Canada's housing markets were super hot, until COVID-19 arrived, and now they're not. Think of the market as "on hold" for the time being.

 

Home sales and listings in Canada’s hottest housing markets dropped rapidly in March as the COVID-19 lockdown arrived.

The coming weeks will be quiet. A Royal Bank of Canada forecast sees sales down 70 per cent in June, compared to a year earlier, but with a rapid rebound coming once the lockdown is over.

Still, that fast rebound is no sure thing. Millions of Canadians have lost work, and households are burning through their savings. Check out the video above for HuffPost Canada senior business editor Daniel Tencer’s prognosis for the housing market in the age of COVID-19.