Confidence appears to be seeping back into the housing market, with a majority of Canadians saying it's a good time to buy, according to the Royal Bank of Canada's annual homeownership survey.
Although this optimism is not reflected in the most recent sales statistics – the volume of sales in the Toronto area, for instance, was down 47 per cent year-over-year in January – the Royal Bank predicts that lower prices will lure a growing percentage of Canadians back into the housing market in the next two years.
A survey of 2,026 Canadian consumers, conducted in the second week of January, found that 65 per cent of respondents believe it is a buyers' market now and 27 per cent say they intend to buy a home this year or next. “Additionally, almost half indicate it makes sense to buy a home now versus waiting until next year.” full story
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