Business View Magazine May 2023

42 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 5 he housing market has been one to watch during the course of the global pandemic and throughout this last year. With so many industry experts predicting a construction slowdown and a devaluing of properties across the board during COVID-19, history has taught us otherwise. Rather than plummet in value, pre-existing properties saw huge price increases, with some properties in hot housing markets doubling in value over 2020 and 2021. At the very least, bidding wars on properties were the norm with the final selling price often resulting in well over the asking price. These equity gains, coupled with a distinct housing shortage seen across North America have kept the resale market healthy as well as new construction companies very busy. Industry insiders have been cognizant, however, that there have been other macroeconomic factors at play to consider for any home renovation and new construction company wanting to continue to see healthy balance sheets. T