Boost in home renovations helping drive up housing values in major Canadian markets, report says

by Sammy Hudes

Crews work on a housing development in Ottawa, on Aug. 30.

A new report says a boost in spending on home renovations during the pandemic has helped contribute to higher prices for single-family homes despite downward market pressure.

The report by Re/Max Canada looked at the evolution of housing stock and trends affecting home values in the Toronto and Vancouver areas, Canada’s two largest real estate markets.

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