Canada's housing market: Toronto and Vancouver mirror each other

Canada’s housing market continues to smash price and sales records during COVID-19, but things are calming down in the Greater Toronto Area and Vancouver area as bidding wars ease.

Meanwhile, the federal government introduced a foreign buyers tax and mortgage rates could be on the rise as the Bank of Canada opened the door to an earlier than expected rate hike.

We’ve been getting monthly updates from the ground floor from Realosophy Realty’s John Pasalis and Oakwyn Realty’s Steve Saretsky, who help make sense of it all, with advice for anyone buying or selling a home.

They shared their thoughts on where they see the markets going and the effectiveness of policy makers’ actions.

Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.

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