The Canadian real estate market is a hot topic right now. While it may seem like the number of people buying homes in Canada is on the decline, there’s still a very active market. Studies recently found that a certain demographic of Canadians are looking for a real estate agent to find them the perfect home. With the number of homes for sale in Canada on the rise, it’s the perfect buying market for people who want to invest in their own homes.
Women Make Up the Majority of Canadians Looking for Homes
According to new surveys, the home browsing market is dominated by women. In a survey of people from provinces across the nation, experts learned that nearly 60 percent of people looking for homes in Canada are women. Whether they are single or married women, they make up the majority of home browsers.
Millennials Lead the Charge
Women might make up a large part of the demographic, but that is only one piece of the picture. The study shows that millennials are leading the charge in terms of searching for homes in most cities. This is followed by Canadians from Generation Y.
The Most Popular Home Price Is Below the National Average
The national average price of homes in Canada is $500,000. However, people who are searching for homes want them at well below that price point. In fact, the most popular searched for price range of houses is between $300,000 and $400,000. This is as much as $200,000 below the national average. The study says that this can be contributed to the weak economy. However, it also shows that the weak economy doesn’t stop people from searching for their dream homes when they really want it.
More Bang for Their Money
Despite looking for homes that are under the national average price, the people who are searching for homes still want large dwellings. For the study, a large home consisted of three or more bedrooms. Less than 25 percent of the people who responded to the questionnaire were looking for homes with fewer than three bedrooms. However, this was a stat that varied greatly depending on region.
The real estate market in Canada is still alive and well. While it’s not thriving like it has in the past, people are still on the hunt for a real estate agent who can help them find the perfect home for sale.