While some forecasters appeared certain earlier in 2020 that Canadian home prices would eventually suffer price declines amid persistently high unemployment and a slow economic recovery, there’s little sign that falling prices are imminent in 2021.
In December, during what’s typically a quiet month for homebuyer activity, 20 suburban communities saw detached home prices rise over 20 percent compared to the same period in 2019. That’s up, slightly, from the 19 suburbs that saw price gains reach that level in November.
Despite the tighter measures put in place to combat the COVID-19 pandemic, Vancouver home buyers scooped up a record number of properties during what’s typically a quiet period for housing activity in December.
As the year draws to a close, we’re looking back at Livabl’s coverage of some of the biggest moments that will surely impact the Toronto real estate market for years to come.