More Forecasting
At the end of January, RE/MAX released their Canadian Homebuying Trends Survey 2013-2014, and among other interesting facts outlined in the results it showed one-in-five homebuyers in Alberta to be single, with 40 percent of those in the market between 18-34 years of age (more than in any other province). Yet another sign of Alberta’s stable, growing housing market, and confirmation that this province is a great place to live for the young and ambitious. Unlike some provinces where the confluence of skyrocketing house prices, relatively low wages, and a hefty tax burden make renting the only option early in one’s adult life, in Alberta we’re blessed with opportunity.
Also noteworthy from the survey is the finding that nearly a third of Albertans intending to buy property this year plan to have at least a 30 percent down payment. Low interest rates won’t last forever (although recent predictions suggest they’ll last for a while yet), and so I’ve always felt it’s wise to pay as much principal as possible to keep mortgage payments low even when rates fluctuate (not to mention saving significant money long-term). I’m pleased to see that message being received across the province.
Tags: calgary real estate, Canadian Homebuying Trends, growing housing market, homebuyers in Alberta, RE/MAX, Real Estate Forecasting
