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Is Canada’s Housing Market About to Change Course?
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The boom in the Canadian housing market has really been unstoppable for years. The pandemic even accelerated the pace, making real estate one of the most desirable avenues for investors. However, the housing market can’t remain hot indefinitely and has to cool off at some point. The April 2021 data showed some dampening, resulting in an over 12% decline in home sales month over month. So, is this the start of a prolonged weakness? If so, what should prospective buyers do?
Canadian housing market in 2021
There are more supporting factors for the country’s housing market in the short term. Certainly, home prices have gone to the moon and affordability has taken a huge dent. However, as interest rates remain at record lows, the Canadian housing market could remain at elevated levels.
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