The housing market has been resilient throughout the pandemic
Insolvencies, credit risks set to rise as supports, deferrals wane
Alberta and Atlantic Canada led the surge
Average home prices are also up 16.9% from a year ago, at $943,710
Construction activity remains 4% below last year's pace
The CMHC forecasts medium-term weakness before a recovery in 2021
Activity in the first two weeks of May was stronger than in the previous month
The monthly decline in April was the largest on record
Preliminary data for May is more upbeat, the real estate association finds
Physical distancing measures are making homebuying more difficult