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Downtown Toronto condo sales bounce back in December, prices keep falling
Looking ahead to 2021, momentum in the condo market will keep building as buyers are reeled in by lower prices compared to the single-family home market, where prices are soaring and bidding wars are commonplace.
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Bidding wars will be a fixture in 2021’s housing market: RBC
Home prices will continue rising rapidly across broad swaths of Canada in 2021 as low housing supply forces buyers into fierce bidding wars.
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Reopened borders will lift Vancouver condo sales in 2021: Central 1
Vancouver homebuyers capped off an unprecedented year by going gangbusters in the final month of 2020, breaking the December record for home sales by a significant margin.
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Sellers in control of Canada’s housing markets, prices to continue climbing
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.
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Bargain hunting buyers caused condo sales to soar in December: RBC
While roaring detached home sales and skyrocketing prices have stolen the lion’s share of the headlines in recent months, it now appears that condos are mounting a comeback, at least when it comes to sales activity.
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Detached home prices rose over 20% in 20 Toronto suburbs in December
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.
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Toronto home prices reach all-time high in 2020, sales smash December record
Home sales for the entire year also posted strong annual growth, up over eight percent from 2019’s total, despite the significant slowdown in activity through the spring months of the pandemic.
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Vancouver housing market ends 2020 on fire, shatters December sales record
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.
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Vancouver home prices to rise 9% in 2021, second-highest increase in Canada
If this forecast materializes, the average price of a Vancouver home would be $1,262,600 by the end of the year, up from $1,158,400 at the end of 2020.
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Average Toronto condo rent dropped by over $450 in November
Rentals.ca found that rent prices dropped across all property types in the Toronto region, with condo rentals seeing the largest annual decline at 17.7 percent.
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Canada’s population records smallest increase since 1946
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BC home prices forecast to rise over 5% in 2021: Central 1
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Summer housing market boom made Canadian homes less affordable: RBC
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Single-family home buying frenzy continues across Toronto, sales up 68% in November
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Major condo price correction is unlikely despite collapsing demand: BMO
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Mortgage rates will stay near record-lows for 2021: CREA