The Ontario Real Estate industry is beginning to bounce back after several turbulent months. We are closer than ever to loosening restrictions across provinces and opening business doors to the public.
The level of demand is significantly lower than what you would normally expect at this time of year. However, a lot of articles are beginning to echo each other in saying that home sales and real estate showings are beginning to increase.
According to data from ShowingTime, a software that provides software and market statistics for the real estate industry in both Canada and the United States, showing activity is on the rebound. From a little over two weeks ago, there has been an increase of 39%, which is the largest increase since the beginning of the coronavirus pandemic outbreak.
Virtual showings were well-received by agents across the province, which accounts for the growth in the percentage of showings. Although the shift is slight, it indicates that buyers and sellers are still interested in real estate transactions. As we slowly transition into May and agents continue to show clients properties, in-person and online, the projection is for Canada’s market to begin to gradually recover.
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