Metropolitan resale snapshot: August 2020

The Conference Board of Canada, August 21, 2020
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The monthly Metropolitan resale snapshot provides an overview of the existing home market and expectations for existing home price growth over the short term for 30 areas.

Document Highlights

  • Canadian housing markets generally surged in July, shrugging off COVID-19 concerns and the recent tightening of mortgage qualification rules by Canada Mortgage and Housing Corporation.
  • Markets are responding to ultra-low interest rates and recovering employment. Nonetheless, risks lurk, including the end of mortgage forbearance by chartered banks, high consumer debt, and a potential second COVID wave.
  • Sales rose in 28 of our 30 markets in July and were up at least 5 per cent month-over-month in 26 of these.

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