More consumers ready to buy
Latest buyer intention survey released by CMHC
More than 380,000 households in Halifax, Montreal, Toronto, Calgary and Vancouver indicated they are ready to buy a home this year, according to a survey released by Canada Mortgage and Housing Corporation (CMHC). This represents an average of eight per cent of all households in those major centres.
“Consumer intentions across the five major markets surveyed remain strong, with eight per cent of households thinking seriously about buying a home this year", said Bob Dugan, Chief Economist at CMHC, who noted that another five per cent of consumers in those markets indicated they have a 50 per cent chance of buying.
"Intentions to buy are up from 2005 when five per cent of households were ready to buy a home. Favorable economic conditions, such as low mortgage rates and a healthy labor market are contributing factors to home buying intentions," added Dugan.
Home buying intentions are strongest in Calgary and Halifax, where 10 per cent of households reported that they are ready to buy a home. Purchase intentions are also strong in Vancouver and Toronto where eight per cent of households are ready to buy, while the share is slightly lower in Montreal at seven per cent.
The survey is conducted using a sample of approximately 4,000 households in each centre surveyed. (CREA 17/05/2006)
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