Canadian real estate remains resilient

Realosophy's John Pasalis says sales are steady but there are warning signs with rentals

Ruth Saldanha 12 May, 2020 | 1:46AM

 

 

Ruth Saldanha: You couldn't have missed the headlines last week when the Toronto Regional Real Estate Board reported that home sales in the Greater Toronto area fell close to 70% because of the COVID-19 pandemic. Meanwhile, in Vancouver, the fall was around 40%. Though these numbers may sound dramatic, the fact is that prices on average went up, albeit by not too much. In Toronto, the average selling price was up 0.1% from last year while Vancouver prices were up around 2.5%. John Pasalis, President of Realosophy, is here today to talk about the market and what sellers and investors can do right now.

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Ruth Saldanha

Ruth Saldanha  Ruth Saldanha is Senior Editor at Morningstar.ca