Price trends and outlook in key Canadian housing markets

This article examines key housing markets in Canada prior to COVID-19 and offers an outlook of the impacts of the pandemic on the real estate market over the next few months. Price trends for four property types, such as new houses, new condominiums, resale houses and resale condominiums are explored. Prior to COVID-19, the price of condominium apartments increased at a faster pace than singles, semi-detached and row homes. The global pandemic may cause a shift of preferences for larger homes instead of condominiums as future home buyers may prefer larger homes in the suburbs as working from home becomes more prevalent.