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.
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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.
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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.
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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.
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.
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