July 14th 2020

Housing supply might not be spiking but the sale prices of properties sure are. “Across Ontario and Quebec in particular, the demand for housing outpaced the growth in supply, especially in the early weeks post-lockdown. The surge in the number of first-time buyers was felt acutely, as these housing consumers soaked up supply without contributing to it.” says Phil Soper, President and CEO of Royal LePage Canada. Phil talked about the current state of the Canadian real estate market last week as he sat down with BNN Bloomberg after the release of the Q2 House Price Survey and Forecast.

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