Ask AI: What will happen to the Canadian real estate market

in 2021 The exact outlook on the Canadian real estate market in 2021 is highly dependent on the effects of the coronavirus pandemic. During 2020, the Canadian real estate market has been resilient, largely due to ultra-low interest rates. However, the economy has been slow to recover, and unemployment remains relatively high. With the country having a high level of debt, any major economic shock could lead to a decrease in demand for housing and a drop in prices. At this time, it appears that the Canadian real estate market will remain stable in 2021. Some experts are predicting modest increases in housing prices, with overall market activity remaining strong. Demand is expected to remain strong, particularly in larger cities, while affordability remains a key factor. Other factors that may influence the market include the easing of restrictions, the implementation of public health measures, public confidence, and the outcome of the US presidential election.