Canadian Homebuyers are More Experienced and Financially Prudent
Mississauga, ON (January 22, 2013) - Changing market conditions have triggered a shift in the Canadian homebuyer mix and mindset, a fact identified and confirmed by the RE/MAX Canadian Homebuying Trends Survey 2013-2014 released today.
The national survey, hosted on the Angus Reid Forum in December, was conducted among 1,109 prospective purchasers who intend to buy within the next 24 months. From consumer demographics to buyer intentions, the survey provides a snapshot of Canadian homebuyers heading into a period of moderation. Among the key findings:
- Almost one in five purchasers is single
- More than two-thirds are second or multi-time purchasers
- Four out of 10 purchasers between the ages of 18 to 34 have a downpayment of 20 per cent or more
- Just over 80 per cent of buyers believe housing values in their area will rise or remain the same.
“Emerging from the survey are some very real indications that Canadian homebuyers—and their attitudes—have changed,” says Gurinder Sandhu, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. “Purchasing patterns have evolved, with a more conservative, fiscally-responsible purchaser moving to the forefront. While tighter mortgage rules implemented last July played a role in the transition, the fallout south of the border and overseas drove the message home.”
To see the full report please click here RE/MAX Canadian Homebuying Trends Survey 2013-2014 released today.