Real Estate News

The Impact of the Coronavirus Pandemic on the Canadian Real Estate Market

As the result of the ongoing coronavirus pandemic, industries around the world have been impacted and in some cases completely halted. When it comes to the Canadian real estate market, the effects have already been observed. It is unsure how quickly or fully the market will recover.

Buyers and Sellers

Because of the social distancing guidelines that are in place, home sales have effectively stagnated. Sellers are unable to open their homes to potential buyers, and it is far safer from a financial and medical standpoint for potential buyers to put their plans to make a purchase on hold. The market has effectively become frozen for the duration of the pandemic due to the lack of activity.

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