Pandemic housing market to stay hot in 2021, but economists expect a hangover later in the year

[Financial Post – January 14, 2021]

Much is dependent on vaccine outcomes, interest rates and buyer psychology.

This year is forecast to be another brisk one overall for Canada’s housing market, but economists also see reason to believe that the rush for residential real estate will start losing momentum as 2021 drags on.

The housing market “likely had its strongest year ever in 2020,” Royal Bank of Canada economist Robert Hogue wrote in a report released on Wednesday.

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