Statistics

I cam across some interesting numbers from the Canadian Real Estate market and I thought I would quickly share the ones that popped out at me.

In no particular order, today's blog will give you some insight into consumer trends and perhaps even an incling into where the market is heading...depending on what you read into it.

- The sales to new listing ratio remains near the threshold between balanced and a somewhat sellers market at 55.2%
- 43% of Canadians would buy a vacation property because it is a good investment. This is down from 64% a year ago.
- currently equity is at 72% of the value of housing in Canada
- In a recent study, young adults and those aged 50 and older prefer smaller apartment condos over other types of housing
- The average National house price is just over $343 K; right here in Richmond and Vancouver it is in excess of $1 Mil.
- 58% of Canadians have their mortgages amortized at 25 years or less, with 12% at 30 years and the remaining 30% are extended to 25 or more.
- 70% of consumers are happy with their current mortgage terms
- 66% of Canadians still opt for a fixed rate in Canada
- 90% of homeowners have at least 10% in equity in their homes, with 81% of those having over 20%
- Did you know that Real estate accounts for only 40% of a homeowners assets?
- Did you know that only 28% of home buyers feel the need to purchase something bigger or better?
- When first time home buyers are looking at homes, 40% intend to purchase a fixer- upper, and of those purchasers, almost all of them intend on staying in that home for at least 10 years.
- Did you know that there are 9.2 Million Echo Boomers living in Canada?

Echo boomers are the children of baby boomers for those who did not know.

- 53% of Canadians depend on Social Media to help them make purchasing decisions.
- 90% of first time buyers are using the Internet to search for mortgage information or options
- Another interesting fact....amongst Canadians, 54% feel the Internet if the most important and influential form of media.
- Compare that to 27% for TV


Some food for thought or maybe water cooler statistics for those with a functioning cooler.

Enjoy your Wednesday, unless you choose otherwise.

Kevyn