Canada’s housing market ended 2020 as it had gone — by astonishing.
“The year just ended will easily go down as the most surprising in the history of Canada’s housing market,” wrote RBC economist Robert Hogue in a note yesterday. “The worst global pandemic in generations clearly couldn’t stop (or did just briefly) Canadians’ desire to own a home.”
Early numbers from local real estate boards this week showed that many markets had their strongest December ever, with sales soaring 32% in Montreal, Ottawa and Edmonton to 65% in Toronto from the year before. Calgary home sales were up 40%.
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