Canada’s red-hot housing market continues to defy expectations, with sales in March up 70 per cent compared to a year ago and average prices up by more than 30 per cent.
The Canadian Real Estate Association said Thursday that more than 70,000 homes were sold last month, obliterating the previous record for the month by 22,000 transactions. The figure was 76 per cent higher than the same month a year ago, which saw sales slow because it was the first month of restrictions related to COVID-19.
Those restrictions put a temporary chill on the market, but things started heating up in May 2020 and haven’t cooled down since.
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