Canadians spent an estimated $80.1 billion updating and repairing their homes in 2019, according to a recent report by Altus Group. This year, with the pandemic putting the squeeze on homeowners’ pocketbooks, spending is expected to decline – but not as much as the overall economy.

So far real estate market activity during the pandemic has exceeded expectations. Usually after someone buys a home, renovations and repairs soon follow. Certainly, the home improvement stores seem to be booming as many people who now have more time at home are using it to take care of home improvements.