The survey shows a number of young first time buyers are entering the Calgary market
Trends for 2013-2014
The recent, nation-wide Canadian Homebuying Trends Survey by Re/Max has some positive numbers to share. One positive indicator is the percentage of first time home buyers and single people who are choosing to buy instead of rent.
Calgary and Okotoks realty trends
Another positive indicator in the survey is the size of the down payment home buyers are choosing. In Alberta, a large number of buyers are opting for down payments of more than 30%. It's a very positive sign that more people have the equity to do this, and more conservative buying will avoid the kind of boom and bust cycles that have caused serious economic problems in the past.
Calgary and Okotoks realty outperforms national average
The survey also delved into consumer confidence levels across the country. Alberta numbers remain very high, with 84 percent responding that they believe property values will stay the same or increase in their area. This optimism is mirrored across Canada, but is especially warranted in areas such as Calgary, Okotoks and Chestermere. According to the Calgary Real Estate Board, housing sales are up 6.24% compared with last January, and the average sale price of these homes has 12.84%. Feeling good about these numbers? We sure are. Let us know if you'd like to speak with an Okotoks Realtor®, or any area in Calgary.
Original story at the Calgary Herald.
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