The Impact of COVID on Real Estate Statistics…
“The April 2020 to April 2021 comparison emphasizes the negative impact Ontario’s first COVID lock-down had on the Provinces economy including Niagara but also shines a light on market’s dramatic recovery and the desirability of Niagara Region as a place to call home.” Said Doug Rempel, President of the Niagara Association of REALTORS®.
Why is there such a large jump in sales compared to last year?
The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures and also tracks the actual number of sales within each month. With the announcement of the global pandemic in March 2020 came a virtual halt to real estate sales from March to May of 2020. The real estate market is seeing more sales as compared to last month even with record low inventory levels.
So, let’s take a look at how Niagara and your municipality performed compared to April of 2020!