The Canadian housing market is expected to remain strong moving into the fall season.
A new report suggests that housing prices are anticipated to increase by 5% in the remaining months of 2021. Despite COVID uncertainty, Ontario has seen some of the highest average residential price increases across detached homes this year.
Young families are the driving factor for this increase. The demand for bigger lots and more green space has pushed homebuyers into the suburbs to find their dream home. More square footage has also been popular, as work-from-home jobs seem to be staying for the foreseeable future.
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While demand for detached homes has been rising month-over-month, the inventory has not…