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As unemployment dampens the hot real estate market, home prices could drop 7% across Canada forecasts Moody's Analytics, Inc. Oversupply and affordability issues combined with the poor condition of the labour market will lead to the decline.
If a COVID-19 vaccine comes out, it is possible that home prices will bounce back in 2022, the report suggests.
If a market slowdown won't help your income and you are considering your options, contact us to see how we can help!