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25% Of Canadians Intend To Buy A Home In the Next 2 Years

65% Of Canadians Think It Is A Buyers’ Market.

The number of people who say they will buy in the next 2 years is up 4% from 2008 in the 16th Annual RBC Home Ownership Survey. Over half say it makes more sense to buy a home now than waiting until next year.

Karen Leggett, head of home equity financing for RBC Royal Bank, stated that “Low mortgage rates and favourable house prices are influencing home purchase intentions this year and may be the reason why more Canadians are poised to purchase  the next two years.”

The last 6 months or so have seen a “wait and see” mentality regarding the real estate market. This is hardly surprising given the deluge of negative reports we are bombarded with daily. There are problems with the worldwide economy but we need to look more locally and not be overly influenced by the media. The average house price in Collingwood and Wasaga Beach increased last year over 2007 ( a record year) and continues to do so.

One of the most frequently asked questions I hear is ” Are prices dropping?” “Price Drops” are normally the result of a listing price that was initially too high. Confidence seems to be returning just as the snow melts.

This entry was posted on Monday, April 20th, 2009 at 8:57 am and is filed under The World Of Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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