“The only reason that anybody’s seeing any type of reflection on the market cooling off a little bit is not to do with the economy,” he said. “Most of it is to do with the frustration with COVID-19, and the last 15-16 months of everyone being cooped up at home.
Ibrahim said that a late-summer surge in the housing market could occur down the road. In fact, he noted, in his home market of Ottawa, whether bidding wars had even eased of late depended on which real estate broker, in which area, you spoke to.