Opportunity knocks - According to the 16th Annual RBC Homeownership Survey, two-in-three Canadians think it's a buyer's market right now and more than a quarter of Canadians (27 per cent) say they intend to purchase a home over the next two years, up four points from 23 per cent in 2008 - the largest single year increase since 2001. Additionally, almost half (48 per cent) indicate it makes sense to buy a home now versus waiting until next year.
The RBC survey found that younger Canadians are most likely to spark an upsurge in home sales. In the under 35 group, 48 per cent said they plan to buy, which is up sharply from 36 per cent last year. Renters also appear to be saying they are tired of paying someone else's mortgage payment, with 38 per cent planning to become homeowners in the next two years.
Cheaper prices combined with falling interest rates - down 50 basis points after March's rate cut by the Bank of Canada -indicate that people believe they will be able to pay less for a relatively valuable asset that will begin rise in net worth as the economy recovers.
The RBC poll was released March 4th and was conducted by Ipsos Reid between January 6 to 9, 2009. The online survey of 2,026 adult Canadians is considered accurate to within 2.2 percentage points, 19 times out of 20.
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Sincerely,
Sara Kareer
Sales Representative
Century 21 Millennium Inc., Brokerage
(tel) 905-450-8300
(toll-free) 1-888-450-8301
(web) www.SaraKareer.com
(web) www.century21.ca/sara.kareer
Sara Kareer, Century 21 Millennium Inc., Brokerage
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Sara Kareer,
Your trusted friend in the Business
Sales Representative
Century 21 Millennium Inc., Brokerage
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Sara Kareer
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Sara Kareer | Office (905) 450-8300 | (toll-free) 1-888-450-8301 | email me
websites: www.sarakareer.com | search for homes
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