CP24 | Real Estate News

A Canada Mortgage and Housing Corp. report has found the COVID-19 pandemic was no match for Canada's real estate market, which saw prices and sales soar in several major cities during the health crisis.

Canadians didn't let COVID-19 or a lack of housing supply stop them from flocking to the real estate market in January as they snatched up a record number of homes and shelled out more than they had in previous years. 1

Homebuyers in the Greater Toronto Area better prepare to spend more than they ever have before. 2

If you were on the lookout for a Greater Toronto Area condo or apartment to rent or own late last year, new data from the region's real estate board shows you might have had an edge in negotiations. 1

The Toronto Real Estate Board says the average price of a home sold last year hit a new record as the number of sales climbed 8.4 per cent compared with 2019. 1

Canadian home sales rose 32.1 per cent in November compared with the same month last year, matching the record-breaking year-over-year increase seen in October, the Canadian Real Estate Association said on Tuesday.

HSBC says it will offer rates below one per cent for some mortgages, which rate comparison website RateSpy.com says is a record low for Canada.

November brought a sense of urgency to the Toronto real estate market, where COVID-19 has people buying and selling homes for "completely different reasons" than before the pandemic, according to Peel-based broker Bethany King. 1