The Holiday Season is upon us, and we have almost made it to the end of one of the most challenging years any of us can remember. When we felt we could control so little, we at least needed to control our space. Our homes have become our refuges, as we spend more time there. We’ve adapted our homes to be our offices and our schools, our restaurants and retreats. We’ve started to think more deeply about what home means and how to create it.
After briefly being put on hold during the outbreak this spring, Canada’s housing market has seen record-breaking growth since the summer. Record-low interest rates and strong demand for more spacious accommodation are pushing prices and sales to near record highs. It will be a photo finish, but it’s looking like 2020 will be a record year for home sales in Canada. And, as we look forward to the new year, 2021 looks like it could be shaping up to be another unprecedented year, based on new housing market predictions. The strength of demand, particularly for larger single-family homes, will drive the average price higher as buyers compete for the most desirable properties.
Have we ever been more primed to say “so long” to one year and welcome in a new one? Although things are still far from perfect, we’re feeling a renewed sense of hope for the future with the turning of the calendar page and looking forward to setting the reset button on life. It will be a holiday season unlike any we have known before, but it is still a time to celebrate those we cherish, even if it’s not how we did it last year. If there are any positive takeaways, it’s having time to pause and feel gratitude, as well as having a deeper appreciation for home, our greatest place of comfort. Let’s raise a toast to one another and to our hopes for the new year to come.