My mid-month report on our local real estate market revealed lots of new listings and prices levelling off. But then predictions for the rest of 2021 and into 2022 show prices edging up. Also, what to think about when buying a condo and more rules to follow when selling your home. Finally, the 7-day market update.
Canada’s real estate industry has seen a smaller impact than the general economy during the pandemic.
Residential investment is residential real estate’s direct contribution to the economy.
It includes the construction of new houses, major renovation, and ownership transfers.
Drops in residential investment are considered red flags for the economy.
Residential investment as a percent of GDP in Q2 increased to 7.48% This is up from 7.25% last year.