Posthaste: The underdog of the pandemic housing market is quietly making a comeback

The condo market, battered by the flight from the city early in the pandemic, is showing signs of recovery, and that could be a good thing for Canadian housing overall.

“Should condo sales consume a rising share of the market moving forward , downward pressure on average home prices from these lower-priced units would be applied,” he said. “This past year, condo sales were hit the hardest by the pandemic. While sales are now back up to pre-pandemic levels, it’s relieving for condo owners to know that their investments have appreciated significantly over time,” said Anshul Ruparell, Properly co-founder and CEO. “Moving forward, it’s forecasted that solid growth in condo sales will continue as pandemic restrictions ease.”

Overall, data show that Canada’s housing market is cooling from the torrid pace set earlier in the year. Home sales in Canada dropped 7.4% in May from April.

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