After the mass exodus from cities into rural areas that we saw across the country throughout COVID, people are slowly trickling back into the city. Jobs are asking workers to come back to the office and the fear of small living spaces is diminishing. A 5% increase in city-purchasing may not sound like a lot, but only months ago it was the complete opposite. This could be great news for those still hoping to move away from the busting hubs, and an opportunity to level out demand (even just a little). “Market conditions are quickly changing,” BMO Capital Markets senior economist Robert Kavcic said in a press release. “We could see much more balanced conditions very soon".
Read the full article to learn more about why "The majority of survey respondents (83 per cent) expect the price of a home to continue to rise next year as inflationary pressures add more costs to Canadians’ home-buying dreams."