Although March 2020 was one of the busiest months in Montréal’s residential real estate market, the Québec Professional Association of Real Estate Brokers (QPAREB) reports that the COVID-19 pandemic contributed to a slowdown in the second half of the month. “In Québec, Montréal is the CMA that is most affected by the spread of the virus, due to the city’s greater exposure to international trade...
April 2020
MONTREAL -- The Quebec government has authorized the province's real-estate brokers to get back to work during the COVID-19 pandemic, but it won't exactly be business as usual. The brokers have been granted permission to work only on transactions deemed to be a priority, defined as those that must be completed before July 31. The Organisme d'autoreglementation du courtage immobilier du Quebec (OACIQ),...
Greater Montreal Area’s aggregate home price rose 7.2% year-over-year in the first quarter of 2020, the region’s second consecutive year-over-year quarterly record in almost a decade Royal LePage forecast that if business activity resumes by late spring, home prices in the region should remain stable with a slight decrease of 0.5% by the end of the year, while the decline could be more pronounced,...
The COVID-19 pandemic has created economic uncertainty, causing Canadians to hit the pause button on many aspects of everyday life. Buying a new home may be the furthest thing from your mind right if you’ve been laid off or face employment uncertainty. On the other hand, if your income sources are secure, it might be a good time to consider a new home purchase, especially while mortgage interest rates...
As the COVID-19 pandemic rages on – more than 900,000 cases were confirmed worldwide at time of writing, with over 8,600 in Canada – brokers and their clients are staring down the barrel of at least another two weeks of strict social distancing. Waking up each day to a cocktail of rising death tolls and sinking stock prices can leave even the most dedicated mortgage professional struggling to stay...