Claude  Misquitta

Claude Misquitta

Real Estate Sales Representative

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Covid-19 Impact on Real Estate

Home sales in the Greater Toronto Area were down 69% year-over-year in the first half of April 2020 and should continue through till the end of the month.

Due to the COVID-19 related issues and the measures of doing business put in place, real estate has translated into a temporary drop in the number of transactions—a drop that will persist until we experience a meaningful and sustained decline in the number of Coved-19 cases.

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Home prices in Canada could see a drop by maybe five per cent in the coming months, Due to economic hardships some owners are forced to sell due to the COVID-19 pandemic. Due to social distancing and government shut down of businesses we are seeing a slow down in real estate activities. Some economist say there might be an even steeper fall in sales activities as we see new listings plunging in the coming days.

Market update

IN today's deadly pandemic situation and  with the global economic fallout for some buying a house is not the top priority for others it might be a good investment opportunity  but many sellers and buyers would like to put shopping for a house off their list to keep themselves and others safe from this pandemic.

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