The housing correction may now be over
Updated: May 29
The Canadian housing market may have finally bounced back from the pandemic-induced slump, according to a recent report by RBC. The report suggests that the housing correction in Canada may now be over, as the demand for houses has increased. It also highlights that the Canadian housing market has been resilient and has adapted to the changing economic conditions. Despite the pandemic, the housing market has continued to grow, driven by low interest rates, strong demand, and an increase in remote work opportunities.
The RBC predicts that the Canadian housing market will continue to grow in the coming months, with prices likely to continue rising due to the low enough interest rates and strong demand. This is good news for homeowners and potential buyers who were worried about the impact of the pandemic on the housing market. However, the the housing market could become overheated if the current demand continues to outpace supply, which could lead to a potential housing bubble. Therefore, it is important to closely monitor the housing market and be cautious when making investment decisions.
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