Canada Real Estate Market Update - Sales Report - Summer 2020
Canada Real Estate Market Update - Impact of COVID-19 - Summer 2020 - House Prices My name is Jeff Thibodeau, and I am a real estate broker and investor in Brantford, Ontario, Canada. If you need expert advice for your situation just click the link to find my trusted advisor in your city (no cost or obligation): https://www.jeffthibodeau.me/jeffs-list For over The Canadian Real Estate Association just released it's May numbers for all of the Canadian housing market. In this video, I'll break it all down to make smart real estate decisions this year. Read/Download The CREA Report Here: https://www.crea.ca/housing-market-st... ð Please subscribe to our my channel! âĄïļ   / jeffthibodeau  ðĪ I also make videos about investing in real estate where I take you behind the scenes of real projects and transactions my team and I are working on. Here is your Canadian Real Estate Update For Summer 2020! So the big news of this report are that both demand and supply are on a rocket ship ride back out of April. We had demand for homes up 57% and the supply of homes coming on the market is up 69%. Now, normally, if we had numbers like this, we'd all be trying to figure out what's going on, but we know what was going on. April was one of the slowest months in the history of recorded sales in real estate. So of course we're seeing a huge increase in the next month. Now, these increases haven't brought us back to normal, but as we're heading into June, that data's not recorded here, but we have our own data because we're watching the market week to week. We can see that that trend is still accelerating into June. So we do expect to get back to normal at some point this year. Let me give you a little breakdown city by city or major area by major area, going West to East. So in Vancouver, recovery is up 32% from its low point. In Calgary, it's up 69%. In Winnipeg, 46%. In the GTA area, Greater Toronto Area, up 53%. Down around my city here in the Hamilton Basin, it's a 69% increase. Up in Ottawa is a 31% increase. It didn't see as much of a retraction in April. And Montreal was one of our hardest hit areas in the country. It's seen a 92% increase in demand month over month. The second big number in this report is our year over year housing price. And now this, again, is very specific to your local marketplace, but what the Canadian Real Estate Association does is it creates a home price index. This really acts much like a stock market index to track all the major cities, all the major markets into just one number. And when they look at this, it shows that pricing is pretty much flat from April to May, which is kind of good news. And also year over year, we're still up 5.3%. Now, that's the average price of the average home across all of Canada. So again, if you're wondering what's going on in your market, make sure you leave me a comment and I can tell you what the average sale price is and which direction that number's headed. So this report mostly confirms what we've been predicting for a few months, that the lockdown would have created this intense April slowdown, and as soon as those restrictions were lifted, we would see the recovery start to happen in the real estate market. --------- ðĨFollow me on Social Media ðĨ âĄïļFacebook:   / thibodeau.jeff  âĄïļInstagram:   / jeffthibodeau  âĄïļBlog: https://www.jeffthibodeau.me _____________________________________ My Company Redline Properties Inc. is a top Brantford real estate brokerage with a unique real estate investing division. We have some of the top Realtors in Brantford, as well as show people how to start investing in real estate in Brantford, including cash flow rental properties and flipping houses. Every month we release a new Brantford real estate market update to ensure you are kept up to date with homes for sale in Brantford. Jeff Thibodeau is the founder and co-owner of Redline - a modern real estate brokerage dedicated to improving the life of the Realtor. Jeff became a licensed Realtor in 2009 after more than a decade in the market research industry. A successful start as a solo agent lead Jeff to grow a sales team to more than 180 ends a year, while also becoming a business performance coach, marketing consultant, and industry speaker. --- Visit Us: Redline Properties Inc - Real Estate Brokerage 5-111 Sherwood Drive - Brantford, Ontario, Canada 34 Wellington Street - Brantford, Ontario, Canada
