More Canadians Plan to Buy A home in the Next 2 Years

That is accourding to the Canandian Press.

A new study by the royal Bank suggests more Canadians are very likely to buy a new home in the next 2 years.

Ten per cent of the 2,047 people surveyed for the 17th annual RBC home ownership study said they plan to buy a home by 2012- up from the 7% 2 years ago.

The bank says 15% of those in the 18-24 bracket say they are very likely to buy- almost double the level recorded in 2009.

The RBC study also found that 91% of Canadian homeowners believe a home is a good investment, the highest level in 12 years.

A quarter of those surveyed, 26%, said they expect their home to be their primary source of income when they retire.

In addition, 44% of Canadians who plan to buy a new home in the next 2 years plan to take a fixed rate mortgage.

Exceptionally low mortgage rates and improved affordability have been key reasons for the resurgence in the housing market this past year.

 

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The Hisey-McDermott Team

The Hisey-McDermott Team

Sales Representative
CENTURY 21 Miller Real Estate Ltd., Brokerage*
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