April 3, 2020
The latest Real Estate sales figures for March have come out today.
This is important to note that March is the month in which the first 14 days are referred to as pre-COVID-19 and 15th to 31st of March as post-COVID-19. So, it’s important to differentiate the two periods to fully understand the report and the impact of COVID-19 on the Real Estate market.
According to the Toronto Regional Real Estate Board (TRREB), home sales in the entire month of March 2020 were up by 12.3 percent compared to March 2019.
However, the pre-COVID-19 period witnessed a strong increase in sales for the month, there was a 49 percent increase compared to the first 14 days of March 2019.
Contrary to the pre-COVID-19 the sales were down by 15.9 percent compared to the same period in March 2019.
For March as a whole, new listings were up by three percent year-over-year. However, during the post-COVID-19 period new listings, compared to the same period in 2019, were down on a year-over-year basis by 18.4 percent.
As of now, the situation seems as a stand-still and the picture would be clearer after life comes back to normal, hopefully soon, by finding the cure for COVID-19.
Take care of yourselves and follow the safety precautions defined by healthcare professionals.
Please pray for the safety of all and the cure for COVID-19 to be found at the earliest.
#BeSafeAndHelpOthersBeSafe
A. Q. Mufti
Please on the link to read the full report; https://rem.ax/2JQbeEL
