Now is the Time to Take Advantage of a Buyer's Market
Now its official - we really are in the midst of a buyer's market. There hasn't been much doubt about it for the past few months, but the other day the professional number-crunchers at Ipsos-Reid announced they have the statistical proof. They released the data they gathered after calling up a total of precisely 2,026 adult canadians for the 16th Annual RBC Homeownership Survey.
A whopping 73% of those Canadians declared that they believe it is a buyer's market for real estate right now. In fact, only 7% still think that sellers have the advantage. The pollsters got personal, asking folks here in Ontario if they were likely to buy a home in the next two years. A full 30% said yes - and that's up from 21% last year.
The poll found that 54% of Ontarians are convinced that it makes more sense to buy now, rather than wait until next year - and a full 84% said that buying a home is a good or very good investment. As well, people who already own a home said they calculated that the value went up 10% over the last two years.
Doug Crowe, RBC's vice president, mortgages, for the GTA was impressed with the Ipsos-Reid results. "With mortgage rates and housing prices looking more favourable than they did last year, many Ontarians are saying now is the time to buy." he said. "our survey also showed that an overwhelming majority of Ontarians still feel confident that buying a home is a smart, worthwhile investment."
So, there we have it - proof that pretty well everyone knows that bargains are now available in the real estate market. Now is the time to take advantage of the situation - Buy new, Buy now!
Taken from Condolife Magazine
by Patrick Tivy - editor