Forecast Period: Home Prices

forecast period: Average home prices in Toronto, Montreal and Ottawa are expected to rebound sooner, starting in late 2020 and rolling into early 2021, according to CTV. Prices in Vancouver, Edmonton and Calgary may not bounce back until later in the forecast period, the report said. CMHC deputy chief economist Aled ab Iorwerth described an uneven recovery that will vary considerably across different parts the country, and urged that forecasts be taken in the context of an extreme uncertainty that lies ahead. Newsletter sign-up Get The COVID-19 Brief sent to your inbox Calgary and Edmonton will see average home prices decline due to uncertainty around oil prices and economic recovery in the region. We are still at the early stage of understanding the impact of COVID-19 on the economy in general, and on the housing market in particular, he said on Tuesday in a conference call. Volatile factors, such as a potential second wave of the virus, higher unemployment and the pace of an economic recovery, could influence the direction of the housing market in the coming months, ab Iorwerth explained. (www.immigrantscanada.com). As reported in the news.