Real estate overheating mainly due to a lack of properties, not the work of brokers

Source: Globe Newswire — 

The Quebec Professional Association of Real Estate Brokers (QPAREB) has released an extensive study on the overheated real estate market in Quebec in the context of the pandemic. This document contains an in-depth economic analysis of the causes of the real estate boom, and was submitted to the Ministre des Finances du Québec as part of the public consultation they have initiated.

The brief (in French) can be read in its entirety by clicking here.

Because the work of real estate brokers has sometimes been wrongly blamed for the rapid increase in property prices, the QPAREB, in the first part of its brief, analyzed the underlying context that has truly led the market to such a great imbalance. It also identifies a series of factors arising from the pandemic that exacerbated the situation and created what might be called a perfect storm, where supply was clearly insufficient to meet the unanticipated demand.