Housing market insights from Barbara Lawlor, President and CEO, Baker Real Estate Inc.

By Susan Legge
November 16, 2020

On the cusp of the pandemic’s second wave in Ontario, we recently asked five industry game changers to share their insights and predictions for the year ahead with regards to the pre-construction real estate industry. Here’s what they had to say...

Looking ahead, I anticipate a very busy 2021 for real estate professionals. To say that 2020 has been unusual is an understatement – but it has shown once again that we are part of a resilient industry. Remember that real estate was the first to pick up and reignite the economy after the great depression. Here we are again, with different circumstances, but with history repeating itself. Real estate has led the charge in the current economic recovery of our great city, region and province.

Essential service

Thinking back, the banking crisis of 2008 and 2009 was a low point as well, and during that time, real estate came to a halt. We did recover, of course, and the pandemic situation is different in that we sold residences throughout the worst of it. Real estate was considered an essential service, which it is. People’s life circumstances change, and as a result, so do their housing needs. Pandemic or not, many people had to buy to accommodate their lifestyle needs.

Our numbers may have been down, but we never stopped selling. We met the situation head on and made our business work, largely through the use of technology. It showed our true grit as industry professionals. I see a bright, positive future. Just look at the sales statistics for both resale and new homes and condos. July, August and September have been brilliant. Prices have risen, and the market has exploded – unheard of during a recession.

Online purchases

People now have the choice of purchasing totally online, or in person with COVID-19 precautions in place. Both approaches are working equally well for us at Baker Real Estate Inc. As an industry, we have proven that you can’t keep us down, even with a pandemic.

About Susan Legge

During her journeys around world of real estate, Susan has seen the good, the bad and the unbelievable as an investor, renovator and homeowner.

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