Thursday 13 August 2015

Study suggests first-timers fueling market



According to a new survey by the Canadian Association of Accredited Mortgage Professionals (CAAMP), it seems that those responsible for keeping the housing market alive right now are actually the first-time homebuyers.


Even with the housing market prices currently at an all-time high, those purchasing a home for the first time are making up 45 per cent of the 620,000 homes sold over the past two-plus years in Canada.


The latest CAAMP consumer survey report released revealed that, even though 18 per cent of down payments are still being loaned to buyers (usually from parents), 53 per cent are using money that they themselves or their co-buyers have saved.



Source:
Canadian Association of Accredited Mortgage Professionals 
and
http://www.postcity.com/Eat-Shop-Do/Shop/August-2015/Real-Estate-Study-suggests-first-timers-fuelling-market/