The past few months have been a challenging and uncertain time for the real estate industry. However, as things gradually reopen, the real estate market is also starting to show early signs of recovery.
Compared to May 2020, last month, there was an increase in the number of mortgage registrations.
While this is encouraging, the June 2020 mortgage registration volume is still low when compared to the same time in the past two years. In June 2020, there were 41,900 residential mortgage transactions, which was a decrease from the 45,500 transactions in 2019 and 45,100 transactions in 2018.
Mortgage registration volume, by municipality, has also declined across all top 20 Ontario municipalities in 2020 in comparison to June 2019.
To see the breakdown by municipality and understand the general trend, visit the Purview blog. Access it here: https://www.purview.ca/top-20-ontario-municipalities-saw-a-decline-in-2020-mortgage-registration-volume/
Find the full Teranet Monthly Market Insights Report here: https://financialservices.teranet.ca/acton/attachment/2216/f-b6a68f9b-d4c9-470c-add4-879ba53164a9/1/-/-/-/-/Teranet%20Monthly%20Market%20Insights%20Newsletter%20July%202020%20Final%20Links.pdf