First-time homebuyers back, LePage says
Derek Abma, Financial Post
Derek Abma, Financial Post
Published: Wednesday, May 27, 2009
First-time buyers are back in the housing game, and this is a crucial development to strengthening the overall Canadian housing market, a major real-estate company said yesterday. Royal LePage Real Estate Service, in conjunction with releasing survey results of potential first-time home-buyers, said this segment vacated the market late last year but has returned. "When first-time buyers stepped out of the market in the fourth quarter of 2008, at the height of the global recession, their absence was profoundly felt," said Phil Soper, Royal LePage chief executive. According to Royal LePage's survey of Canadians likely to buy a home within the next three years, lower prices were the most popular motivation for considering a purchase, cited as the most important factor by 33% of respondents.
First-time buyers are back in the housing game, and this is a crucial development to strengthening the overall Canadian housing market, a major real-estate company said yesterday. Royal LePage Real Estate Service, in conjunction with releasing survey results of potential first-time home-buyers, said this segment vacated the market late last year but has returned. "When first-time buyers stepped out of the market in the fourth quarter of 2008, at the height of the global recession, their absence was profoundly felt," said Phil Soper, Royal LePage chief executive. According to Royal LePage's survey of Canadians likely to buy a home within the next three years, lower prices were the most popular motivation for considering a purchase, cited as the most important factor by 33% of respondents.
