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.
Alex Irish
CEO & Team Leader - Sales Representative
Alex Irish has been a leading force in real estate for over thirty years, establishing a reputation as one of Oakville’s most respected and successful realtors. Known for her unwavering work ethic and ethical approach, Alex consistently ranks among the top producers in the industry.
Her commitment to client satisfaction is unparalleled, exemplified by her signature concierge service that ensures each client receives personalized and dedicated attention. In late 2016, Alex embraced a new chapter as the Team Leader of Alex Irish & Associates, where she could uphold the high standards of service that have defined her career.
In 2024, Alex expanded her team’s reach by merging with the Regan team to create Regan Irish & Associates, forming a dynamic new firm that blends the strengths of both businesses. This partnership not only enhances their services but also provides clients with greater resources and an expanded network, all while preserving the personal, relationship-driven approach that clients have come to trust.
Alex’s insights on real estate trends are highly sought after, and she has been featured in prominent publications such as the New York Times and Globe & Mail. A certified luxury marketing specialist, she has received numerous accolades throughout her career and frequently speaks at industry conferences.
Every February, Alex and her team at Regan Irish & Associates participate in the Kindness Tour, a tradition launched in 2017. During this month-long initiative, the entire team supports 28 local charities, embodying the company’s commitment to community. In recognition of their efforts, they were nominated for a Community Spirit Award.
At the heart of Alex’s philosophy is the belief in “doing ordinary things extraordinarily well.” She is deeply committed to building lifelong client relationships and takes pride in mentoring a dedicated team of agents while continuing to actively sell real estate.
Related Posts
FALL MARKET KICKOFF: September 2025 Real Estate Market Update
As summer winds down, the Greater Toronto Area (GTA) real estate market is shifting once again—this time with an important boost from the Bank of Canada’s recent interest rate cut. On September 17, 2025, the Bank lowered its policy interest rate to 2.5%, marking a significant move that is expected to reinvigorate buying activity across the region.
Market Snapshot: August 2025 (TRREB) 
According to the Toronto Regional Real Estate Board (TRREB), August brought encouraging signs of stability:
- Sales: 6,232 transactions across the GTA, a 4.6% increase from August 2024.
- New Listings: 13,119, down slightly year-over-year, helping balance supply.
- Average Selling Price: $982,880, nearly flat compared to last year (+0.4%).
- Trend: Balanced conditions are giving both buyers and sellers room to maneuver, with the recent rate cut expected to stimulate fall demand.
City & Regional Highlights
Toronto 
Toronto continues to see steady demand for condos and townhomes, appealing to buyers looking for affordability in the core. Detached homes are moving more cautiously, but price stability suggests confidence returning to the market.
Mississauga 
Mississauga remains a buyer-friendly market, especially in the detached and semi-detached segments. With borrowing costs easing, families upsizing or relocating may find strong value in the fall.
Oakville 
Luxury demand in Oakville is regaining traction. The combination of limited inventory and lower financing costs positions this market for an active fall season, especially for executive homes and lakefront properties.
Burlington 
Burlington continues to attract buyers migrating west from Toronto. The city’s blend of affordability, lifestyle, and community feel has kept prices steady and competitive.
Muskoka 
Cottage country remains strong, with buyers eyeing investment properties and second homes. While activity softened slightly through the summer, the rate drop could encourage more buyers to act before year-end.
What This Means for Buyers & Sellers
With interest rates now at their lowest level in two years, affordability is improving across the GTA and Muskoka. Buyers who were waiting on the sidelines are expected to re-enter the market this fall, while sellers may benefit from increased competition for well-priced homes.
At Regan Irish & Associates, we specialize in helping clients navigate market shifts with confidence. Whether you’re buying a luxury home, selling a family property, or investing in Muskoka, our market insight and negotiation expertise ensure you get the best results.
1320 Cornwall Rd Unit 103, Oakville, ON L6J 7W5
905.842.7677
Visit reganirish.com——
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!
