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Will the Canadian Home Prices Recover Soon?

October 13, 2020 • Financial Industry, Real Estate Industry

The Canadian real estate market has been a hot topic of discussion.

So many diverse opinions are being shared everywhere that it’s hard for one to ascertain where exactly is the market headed.

Some analysts are of the opinion that home sales and prices will rebound quickly, as the lower interest rate will act as a catalyst for recovery, while others think that this recovery won’t happen until 2022.

Financial institutions, for instance, seem to indicate that the housing market is headed for a slowdown. A recent National Bank of Canada report forecasts a significant price decline of around 9.8% from 2020-2021.

However, the real estate organizations strongly believe that the real estate market is resilient, particularly in the GTA, and home sales will rebound soon.

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