Paralyzed him, but also because of the COVID-19, the real estate market is slowly recovering from the consequences of the pandemic.
Indeed, from 14 march to 11 may, the real estate brokers have been forced stop.
Among the effects the most striking is the decline in the number of properties on the market. This phenomenon is also due to the fact that many households are currently on unemployment.
“It leaves a great pump, it is sure that there are much less houses on the market […], but there are still a lot of people who need to relocate,” says Julie Saucier, president and executive director of the Association professionnelle des courtiers immobiliers du Québec (APCIQ).
In spite of this craze, which can be explained in part by the rental market, the APCIQ fears of a housing crisis.
Still, on the whole, the market expects to suffer a significant decline in the number of transactions for the current year.
“The second wave will really be decisive. Are we economists to the Association who have made assessments. Our forecasts are that the market this year […], it should probably end around at least 20-25 %, ” says dr. Saucier.
For the price, we do not expect that the fall is also important. It is estimated declines ranging from 2% to 4%.
The low number of properties on the market, is also in a way that it is difficult to identify trends among new buyers.
“Depending on the regions, we look at if people are going to need a home office, something that he had not previously needed. Is it that they have no need to go to the suburbs? To stay more in the center of the city? Is it that it is more towards the towers to condos?” lists Julie Saucier.
The analysis is ongoing, but as it is based on data for the month of may – month, according to Ms. Saucier – the portrait would not be as accurate. Once the data of the months of June, July and August will be available, the APCIQ will have a better idea of the trends.