As the economy oscillates, this could lead to house price inflation, according to the TRREB report to lawmakers.
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Even though the number of home sales fell during the pandemic, prices remained stable as buyers and sellers withdrew in equal measure, TRREB estimated. If registrations are delayed, this could reduce supply, said TRREB, assuming that the spread of COVID-19 continues to be contained.
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Rather than focusing stimulus on stimulating homeowners, the group of 56,000 real estate agents suggested that improving the supply of housing would keep prices affordable for buyers.
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Among TRREB’s recommendations, the city should accelerate plans to add duplexes and low-rise apartment buildings in neighborhoods with single-family homes.
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