The GTA Area’s housing market seems almost immune to the crippling economic effects of COVID-right now.  July was a record-breaking month with 11,081 homes sold according to TREB. That’s a 29.5% increase compared to the same month last year. [1]

At Sotheby’s International Realty Canada, both number of sales transactions and dollar volume are up 11% compared to July 2019.

Other than super low interest rates, is it because there was a backlog due to COVID putting the world on pause? Or is it because everyone is spending so much more time at home, that they need a bigger or better place to live?