RE/MAX Canada has just released a new report that says over half of Canadians expect to get involved in the real estate market within a year. Because we’re the mortgage broker Toronto team that stays on top of trends, we’re happy to bring you some good news during the COVID 19 pandemic.
Christopher Alexander, Executive Vice President and Regional Director, RE/MAX of Ontario-Atlantic Canada, explained the optimism in a press release.
“Markets have experienced a steep drop in transactions over the last few months,” he says. “However, transactions and prices have been resilient in much of Canada.”
He also said based on recent activity in American and European markets, they were anticipating demand to improve much faster than they first thought.
The Mortgage Broker Toronto Analysis
RE/MAX Canada commissioned the survey. Highlights include:
- the fact that a fair number of Canadians believe the housing market is set to rebound before the end of the year. In fact, 29% said that timeframe is all that’s needed to return to its pre-COVID 19 strength.
- A little over half of the respondents (56%) said they were planning to get involved in real estate. They gave the timeframe of less than a year.
- A solid number (44% of Canadians) are looking for a bounce back in real estate by next year.
In part, the RE/MAX team here in Canada has tied their expectations to what’s happening in Europe. May’s numbers reported an uptick in traffic of 70%. In America the real estate traffic in personal showings jumped. In a large number of American cities it has returned to numbers not seen since January 2020.
We’ve got your back here at OMJ Mortgage. We’re the mortgage broker Toronto team with experience and dedication.
