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Housing market recovery from COVID-19 crisis will be uneven across the country according to Canada Mortgage and Housing Corporation's latest Housing Market Outlook. This report focuses exclusively on urban areas, says "The housing outlook is subject to unprecedented uncertainty due to the pandemic."
The CMHC said a combination of factors related to the pandemic will slow housing starts and push sales and home prices below pre-COVID levels. The housing market likely won't see a return to pre-pandemic levels before the end of 2022.
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!