The Pandemic will be a Temporary Shock
We are optimistic that the housing activity in the Toronto and Greater Toronto area will resume once the health crisis comes under control and authorities lift containment measures. The timing and speed of the recovery is uncertain at this point. We are hoping that early summer will be the restart date. We think the Toronto real estate market recovery will come in stages – taking buyers a bit of time to regroup and rebuild confidence amid higher unemployment rates. Surprisingly enough even with the social distancing and virtual showings, there is still activity in sales in particular in the condo market, driving this are the exceptionally low interest rates. Once there is strengthening in the job markets and a bounce back in migration along with the continued low interest rates this generate a substantial tailwind and we will likely see a surge of home resales in 2021. Relocating to Toronto soon? Our sister-company MAC Real Estate Services Inc. Brokerage will help you plan your move to Toronto to ensure everything goes accordingly and if you’re in the market to buy Toronto residential real estate, be it a condo or detached home, our team of esteemed Greater Toronto Area Realtors will assist. If you are in need of destination services MAC Relocation Solutions is here to assist. Contact us today for more information! Once you are settled into your new home let’s start planning for your much needed Caribbean get-away in St. Martin, St. Barth’s or Anguilla with MAC Caribbean Villas. What are you waiting for?