It looks that way, and all signs are that it is starting to feel a lot like the spring market has finally arrived.
Markets like Toronto and Vancouver are predicted to take a hit, but for right now despite coronavirus, GTA real estate prices are rising slightly. (1)
In the last decade, Toronto and Vancouver have had increases of 90% in Toronto and 117% in Vancouver (2) all while the rest of the country had average housing prices rising by only 56%.
Areas like ours that are more reasonably priced look like they are going to stay strong. (Think about it, if you can’t afford a home in Toronto where are you going to go?)
There are still houses being sold and for now, it looks like the market is starting to pick up.
BUT what is important, is getting a pre-approval done before submitting an offer.
Don’t hesitate to Text, Call or email me anytime to have your questions answered and to get you or your client pre-approved.