Has Coronavirus Made More People Think Seriously About Buying A Home?
Coronavirus has turned every aspect of life upside down for most people. We’ve gone from hectic, fast-paced days to an almost complete standstill and then back to hectic. And while lockdowns did cause the real estate industry to slow for a while, measures are now easing and many people have reassessed their life plans and priorities during this time.
Are buyers more cautious?
Coronavirus has caused a lot of uncertainty, with many people facing redundancy, reduced pay, or other dramatic changes to their lifestyle. However, it’s also had a significant effect on people’s attitudes towards where they are living.
Being forced to stay at home for an extended period of time has made people reconsider the priorities they have in their home. Many people that currently live in compact apartments, or city central locations, are now considering more space, some might actually like a garden or green space around their house. Renters are also looking for their own space, a space that they can decorate and improve as they want.
There are also the financial considerations that have been brought up during the coronavirus pandemic. While there is a lot of economic uncertainty, a large number of people have managed to significantly cut back on their living costs — fewer coffees, meals out, and luxuries that would usually add up.
A lot of people have been able to save up some money while confined to their homes, and they’re looking to invest this money into buying their first home. It’s also often the case that rent payments are higher than monthly mortgage payments.
On top of this, many offices aren’t going to be reopening in the same way that they were — many businesses have found that they can operate just as well, if not more efficiently, with their staff working from home. While many workers have set up make-shift, temporary home offices, as we come out of lockdown people will be looking to buy houses that will be better designed to have a workspace.
Is post-lockdown a good time to buy a house?
Over the past couple of months the housing market has slowed, buyers have been cautious, and fewer sellers added their house on the market.
Post-lockdown could be a good time to think about buying a house because prices are likely to go down, at least a little. Many predicted that it would cause a significant drop in house prices. And while there have been price decreases in some areas, in other areas it has just stalled the acceleration of house prices for now.
Experts are saying that it could take until 2021 before Canada’s house prices start to increase again, and the housing market won’t fully recover until 2022 — so if you’re a first-time buyer now might be a good time to get a better deal.
And as normal life begins to pick up again, and furloughed employees go back to work, homeowners who have reassessed their living requirements are going to start listing their properties for sale.
What to consider when buying a home after coronavirus
The longer-term effects of the coronavirus pandemic are still unfolding and there is a certain amount of economic uncertainty. With that in mind, it’s important if you’re thinking of buying a house that you get the best rates for your mortgage. Use an online mortgage broker such as Breezeful to find the most competitive rates.
At the same time, coronavirus has had a big impact on how the real estate industry is operating. It has become more flexible in light of lockdown restrictions, and many realtors are moving a large part of their operations online. They are now interacting with buyers and sellers virtually — showing houses and signing papers without the need to meet in person. This can provide buyers with a lot more flexibility in viewing a house initially, and as restrictions ease, it means they can still do a virtual viewing first to ensure they want to visit it.
If you are seriously thinking about buying a house then it’s important to have a long term plan for your savings. Use a money-saving app like Money Box to help you set, track, and achieve saving goals.
Coronavirus has given a lot of people time to reconsider their priorities, and for a lot of people renting this means they’re now seriously considering buying a house. Whether they’re looking for a bigger space or more freedom – this is a good time to be thinking about buying a house.
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August 2025 GTA Real Estate Market Update | Regan Irish
The August 2025 GTA Real Estate Market Update reflects renewed momentum and affordability in Toronto, Oakville, Mississauga, Burlington, and Muskoka. Thanks to steady interest rates and appealing home prices, July proved surprisingly dynamic. Let’s dig into the numbers and what they mean for you.
Interest Rates Remain Stable — Affordability Fueling Activity
In July 2025, the Bank of Canada maintained its key rate at 2.75%, its third consecutive pause. With lower borrowing costs now more accessible, affordability is encouraging a wave of renewed buyer activity.
GTA Market Overview: Sales Surge, Prices Slightly Dip
- Home Sales: 6,100+ transactions region-wide, marking a 10.9% increase YoY and the strongest July since 2021.
- Month-over-Month: Seasonally adjusted sales rose 13% from June to approximately 5,744 units, the biggest monthly gain in nine months.
- New Listings: Up 5.7% YoY, totaling 17,613 new offers.
- Price Trends:
- The MLS® Home Price Index (HPI) Composite Benchmark fell 5.4% YoY.
- The average GTA selling price dropped 5.5% YoY to around $1,051,719.
- Word on the street indicates the HPI drifted slightly lower—about $979,000, down 0.2% from June.
What It Adds Up To: Buyers are back in force—sales are outpacing new listings while prices softened, creating renewed market opportunities.
City Highlights
Toronto
A more balanced landscape—but some segments remain soft. Condos and detached homes see inventory rising; semis are steadier.
Oakville, Mississauga, Burlington & Muskoka
While TRREB doesn’t break down by city in these reports, regional trends suggest:
- Mississauga & Burlington: Strong rise in listings and dipping average prices give buyers leverage.
- Oakville: Stability in demand for luxury keeps discounts modest.
- Muskoka: Continued strong interest in sub-$2M waterfront properties should benefit from broader GTA momentum.
What This Means for You
- For Buyers:
Renewed affordability, rising inventory, and favorable interest rates make August a prime time to move. - For Sellers:
A more balanced market—strategic pricing and quick response will be key to success. - For Investors & Cottage Buyers:
Strong July sales in the GTA point to increasing investor interest; Muskoka remains a high-value lifestyle and investment destination.
Work With the GTA Real Estate Experts
Whether you’re planning to buy a Muskoka cottage, invest in a luxurious Oakville property, or explore options across Toronto, Mississauga, or Burlington, now is the time to act.
Regan Irish & Associates specializes in luxury, resale, and investment properties across the GTA and Muskoka. Our market insight and negotiation skills help you get the best results—whether buying, selling, or investing.
1320 Cornwall Rd Unit 103, Oakville, ON L6J 7W5
905.842.7677
Visit reganirish.com
Let’s make today’s market your opportunity—contact us today!
Ultimate Guide to Downsizing Your Home in Canada
Alex Irish & Associates and The Regan Team Announce Strategic Merger
Two of the most respected names in real estate, Alex Irish & Associates and The Regan Team, are excited to announce a strategic merger that will combine their expertise, resources, and market reach. This partnership of Regan Irish & Associates brings together the strengths of both firms, offering an enhanced real estate experience for clients across Southern Ontario, including expanding into new regions like Collingwood and Muskoka. The merger reflects both brokerages’ long-standing commitment to providing high-quality, relationship-focused service while leveraging new technologies and business strategies to ensure their clients receive unparalleled support.
“Alex is the consummate professional,” said Matthew Regan, CEO of The Regan Team. “She embodies the qualities of a person I would trust with my own home sale, and I am excited to partner with her to combine the best of both our brokerages. Our goal is to create a work culture that allows our agents to thrive, while being confident and equipped to provide the service our clients deserve. Our clients are going to benefit immensely with a wider and deeper net of potential buyers and an even further reach in marketing and advertising.”
Alex Irish, Founder of Alex Irish & Associates, emphasized that this partnership is the next natural step for her business. “By combining our resources and efforts we knew we’d be able to create a better real estate experience for our clients, our agents and business partners.” she explained. “This merger allows me to focus more on client relationships while also mentoring our agents who can continue to offer that same high level of service. Matthew has built a business model that aligns with my long-term vision, allowing us to scale while still maintaining the personal touch. Simply put, we are better together.”
Alex has built her brand over decades, particularly in the Oakville area, where her name is synonymous with excellence in real estate. Her personal approach, based on referrals and repeat business, has earned her a loyal clientele. Matthew has focused on recruiting top agents and scaling his business, growing The Regan Team to one of the top brokerages in Canada. This merger offers an exciting opportunity to grow into new territories. Together, the merged brokerage will have 15 offices spanning from Niagara to Toronto to Muskoka. This expanded presence means more resources for clients, from enhanced marketing capabilities to a wider net of potential buyers.
The merger will officially take effect on October 31, 2024, and the new branding and operations will be rolled out in the coming months.
About Alex Irish & Associates
Alex Irish & Associates, led by Alex Irish, is a highly respected name in Oakville, known for its personalized, referral-based business model and long-standing relationships with clients. Alex has built her brand on trust, excellence, and attention to detail, qualities that will remain at the forefront of the merged firm.
About The Regan Team
The Regan Team has a long-standing reputation for innovation, process-driven operations, and a focus on agent recruitment and development to provide the highest level of service for their clients. Under Matthew’s leadership, the brokerage has expanded its presence across Ontario, providing agents with the tools and support needed to succeed in a competitive market. For more information on this exciting merger, please contact Matthew Regan.