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.