BMO Fall Home-buying Report
The report states that nearly half of prospective buyers increase price to $483,397 and shift to semi-detached.
The survey revealed that the top contributors to house-hunters increasing their price point were:
- The majority (86%) say housing prices have risen since they first started looking.
- Eight in ten (81%) now have a better understanding of current prices.
- More than half (56%) were able to save more for a down payment
Housing prices in Canada have risen 18% over the past 4 years. As prices rise, house-hunters need to ensure their savings are keeping pace, especially first time buyers, who don’t have the leverage of a current house in the market, says Vice President of Personal banking products, BMO.
Article from: www.MCAP.com