If you’ve been sitting on the sidelines of the real estate market with a chunk of savings hoping for house prices to plummet, 2021 probably won’t be your year, Canadian real estate market experts say.
The COVID-19 pandemic didn’t devastate Canada’s hottest housing markets the way some forecasters predicted. In fact, in cities like Toronto and Vancouver, fierce competition for detached houses meant back-to-back months of record-breaking prices.
CTVNews.ca chatted with real estate agents and experts in Vancouver, Calgary, Toronto and Montreal to get their predictions for where the market is headed. While each expert expects 2021’s market to look a little different, they all anticipate that prices for mid-range detached homes will only go up as more Canadians seek out home offices and backyards to make life with COVID-19 a little more comfortable.