COVID - 19 Toronto Housing Market Changes

Thursday Apr 16th, 2020

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The strict social distancing measurements have been making it challenging for the Real Estate Industry in Toronto. March, which is usually the busiest month for transactions, has been a bit stagnated. However, the Toronto Regional Estate Board (TREB) announced that Greater Toronto Area REALTORS® reported 8,012 home sales through TRREB’s MLS® System in March 2020 – up by 12.3 percent compared to 7,132 sales reported in March 2019. That increase was based on the first two weeks of the month, meaning that if it wasn't for COVID-19, March would have become a fantastic month for transactions. Even though we are in a pause moment, economists say that looking to 2021, buyers and sellers will use this year to engage in a deal with more confidence which will consequently generate massive sales and a brighter future.


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