Confidence Still High Among Canadian Home Buyers

According to a recent RBC Homeownership Study an overwhelming majority of Canadians (90%) remain confident about real estate investment in Canada. 

·         85% of respondents felt they were doing a good or excellent job of paying down their mortgage.

·         73% of Canadians believe they or their family are well-positioned to weather a housing drop.

·         29% say it’s likely they will buy a home over the next 2 years, down two points from 2010 yet higher than any other year since 2006.

·         55% of Canadians felt it was better to buy now rather than wait.

·         Among those likely to buy, over half (57%) are looking to buy within 18 to 24 months while almost one-quarter (24%) are planning to buy in the next year.

·         40% of Canadians feel the current housing market is balanced equally between buyers and sellers.

·         Homebuyers list rising home prices (26%) as their number one concern about purchasing a home followed by rising mortgage rates (22%).

Domenic Mirabelli
416.303.4480
domenic.mirabelli@migroup.ca

http://thescooponmortgages.blogspot.com/
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