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"The housing outlook is subject to unprecedented uncertainty due to the pandemic." according to the CMHC in it's newly released special report. The Canada Mortgage and Housing Corporation says that large declines in all aspects of Housing sales, including new Construction will continue throughout this year and on until 2022. Although the current selling price is still consistent with past sales, this is unlikely to continue. Prices are likely to decline up to 18 percent in parts of the country.
If a two-year market slowdown is making you consider your options as a Real Estate Professional, contact us to see how we can help!