New Facts On Home Buyers

Here’s some fresh dataHome-Purchase-Report from CMHC’s newly-released Renovation and Home Purchase Report:

  • 6% of Canadian households bought a home in 2009
  • 43% were first-time buyers (up from 36% in 2008)
  • 35% of buyers were age 18-34
  • 66% bought a home that was more expensive than their previous residence; 22% bought a less expensive home
  • 59% bought a larger home; 24% downsized
  • 74% bought an existing home; 22% bought new construction
  • 55% purchased a single-detached home; 18% bought an apartment condo
  • 5% of households intend to buy in 2010; 53% of those are renters
  • 42% of those intending to purchase, plan to make a down payment of 20% or more.

The report surveyed 5-10 metropolitan areas across the country. Here’s a link to the full report with all the details.

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