The U.S. Housing Market Is Hot. Canada’s Is Even Hotter

Discouraged U.S. homebuyers, take heart. At least you’re not house-hunting in Canada.

The U.S.’s cold-weather neighbor to the north has the hottest housing market in North America, according to a report Thursday by Toronto-Dominion Bank. Even as the pace of U.S. sales increased by 13% in March compared with 2019, the increase was a whopping 75% in Canada, according to the report by senior economist Sri Thanabalasingam. The average home price in Canada rose 32% from a year ago, almost twice the rate of increase in the U.S., the report said.