It's difficult to predict how long it will take for Canada's housing market to recover from COVID-19 crisis, but one thing is certain — the pain will be felt differently across the country, a new report says. Canada Mortgage and Housing Corporation's latest Housing Market Outlook, which focuses exclusively on urban areas, says "the precise timing and speed of the recovery in major markets is highly uncertain and will vary considerably." In cities where industry lends itself better to working from home, the recovery may be less difficult, the report says. CMHC said the annual pace of housing starts, excluding Quebec, fell 20.4 per cent in May compared with April. (Michael Wilson/CBC)Earlier this month, CMHC said the annual pace of housing starts, excluding Quebec, fell 20.4 per cent in May compared with April.

Source: CBC News June 23, 2020 19:07 UTC