Canada’s existing housing markets plateaued in October. Residential demand persists despite an emerging second COVID-19 wave and still-uncertain economic prospects. Buyers continue to be lured by ultra-low interest rates and the desire for more living space in an era of pandemic restrictions and work-from-home practices. Risks remain, however, including the staggered end of mortgage forbearance by chartered banks, high consumer debt, and a softening apartment market in some cities.