The unreal Recovery of the Canmore Real Estate Market in 2020
Welcome to 2020 – the year of Covid! When at the beginning of the year Covid started to appear on the horizon, nobody here in Canada or Europe was really taking it very serious. And I remember several discussions that I’ve had with friends and relatives about this topic. Having experienced SARS several years back when I was still living in China, I had quite a different opinion from most of my friends on how serious this could become for us.
In May of this year, we had seen the first lockdowns and the Real Estate Market reflected what was happening all over. Sales numbers in Canmore were down by 44% compared to 2019 and the future looked grim.
But then something happened and miraculously demand for Real Estate came back. By the end of December we had 658 sales, which is 27% more sales than in 2019.
The reasons for this are still not entirely clear to me, but here are some possible explanations: