Canadian Housing Market News

Current Date: 04 July 2020

Canada Real Estate Market Overview

Transactions

33,051
60%
vs. Apr 2020

Average Selling Price

$494,476
1%
vs. Apr 2020

MLS Home Price Index

244.3
No Change
vs. Apr 2020

Over the last decade, the Canadian real estate market has been one of the hottest real estate markets in the world. Fueled by Canada's status as an immigration hotspot as well as factors including low unemployment and low interest rates, the Canadian real estate market has appealed to both domestic and international buyers.

In the last few months, the COVID-19 pandemic has disrupted economies and real estate markets all over the globe. In response, the Canadian government has launched a Mortgage Deferral Program as well as other initiatives to minimize the impact on the housing market. Despite their efforts, Canadians may see lasting changes in their real estate markets as the effects of the pandemic increase unemployment and bring immigration to a standstill.

Canada Real Estate Market Trends

Breakdown By Region

Greater Toronto Area Housing Market

Transactions

55%
vs. Apr 2020

Avg. Selling Price

5%
vs. Apr 2020

Montreal Metropolitan Area Housing Market

Transactions

74%
vs. Apr 2020

Avg. Selling Price

1%
vs. Apr 2020

Greater Vancouver Area Housing Market

Transactions

34%
vs. Apr 2020

MLS Benchmark Price

No Change
vs. Apr 2020

City of Calgary Housing Market

Transactions

218%
vs. Apr 2020

Avg. Selling Price

-12%
vs. Apr 2020

City of Edmonton Housing Market

Transactions

51%
vs. Apr 2020

Avg. Selling Price

No Change
vs. Apr 2020