The association’s third quarter forecast report predicts 82,380 home sales by year’s end, a 6.5 per cent increase over 2019’s 77,351 residential home sales. The average home price is also forecast to rise 7.7 per cent this year and 3.7 per cent in 2021.
That, coupled with record-low mortgage rates and buyers seeking more space at home, have prompted a burst of sales activity that had been paused in the early weeks of the pandemic.
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