Bullish homebuyers in Alberta
Posted Mar 8, 2010 8:01 am.
This article is more than 5 years old.
A new RBC home ownership survey has found house buying momentum in Canada is on the rise.
10 per cent say they plan to buy a home within the next few years.
That’s up from seven per cent two years ago before the recession hit.
The number is even higher in Alberta, with 13 per cent saying they are seriously considering buying a home.
RBC Vice President Don Peard tells 660News the numbers don’t indicate another housing boom is on the horizon.
Peard says with the worst of the most recent economic downturn behind us, it’s likely people realize now is a good time to get in on the action.
He says there is a feeling that house prices have bottomed out and with interest rates expected to rise starting this summer, home buying intentions are headed higher.
Peard also notes those who were sitting on the sidelines used the time to put more cash away and are putting down bigger down payments when signing on the dotted line.
91 per cent of Canadians believe buying a house is a good investment and more than 25 per cent expect their home will be their primary source of income when they retire.
