Prices holding steady for nowThe number of homes sold is in free fall, but so far average prices are not plummeting as sellers try to ride out the pandemic. April's average price was 10 per cent lower than March's, an almost unprecedented development given the seasonal nature of Canadian real estate. Without those big sales prices acting as a magnet pulling up the average, the average price figure will look even more wonky than it normally does, according to DePratto. "With activity shrinking so dramatically and likely to stay depressed for several months, average prices will likely be distorted," he said. It's not hard to see why average selling prices could be misleading.

Source: CBC News May 15, 2020 13:38 UTC