Canada’s housing market mounted an impressive comeback after the springtime freeze, but a prolonged period of high unemployment and lower incomes will eventually sap the market’s current vigour.

The renewed vigour seen in Vancouver home sales over the past few months is so concentrated in the single-family homes segment, it appears to be dissuading some condo developers from bringing new projects to market.

After a historically slow spring season, homebuyers have returned to markets across Canada in droves during the post-lockdown period, even within the luxury housing sector.

In Langley’s sought-after Central Gordon neighbourhood, a new townhome collection offers elevated living just minutes from day-to-day conveniences.

The rise in prices seen in the final month of the summer was paired with an eye-popping 9,878 home sales, a pace that's reminiscent of the market’s mid-2016 “hey-day.”

Located in the Lower Lonsdale community, the development would be situated adjacent to Anthem’s West Third Condominiums that was completed in 2019.

Sales are preparing to launch in a new master-planned community that will transform the township of Esquimalt.

In May, CMHC President Evan Siddall made waves when he testified before the House of Commons Finance Committee that he expected national average home prices to fall between 9 percent and 18 percent over the next 12 months.

A widely watched home price index tracking the Canadian housing market is firming up after posting weak results through June and July.

If the current rate of sales holds, September 2020 will look awfully similar to the soaring heights seen in the Vancouver market in spring 2017, before policy shifts at multiple levels of government put a damper on market activity.