Latest Data From May 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.