(Source: Calgary Herald)
Lower prices and very low interest rates are motivating Canadians to purchase their first homes – but confidence in the economy and their employment prospects are still weighing on their minds, says a report released today by Royal LePage Real Estate Services.
The real estate firm said 86 per cent of potential first-time buyers say low interest rates make them more likely to purchase a home and 81 per cent say lower housing prices are a factor. However, 76 per cent also cite job security and 64 per cent say a stable economy are also factors in their decisions to buy.
“Alberta’s urban centres continue to be popular with first-time buyers, who make up nearly a third of home sales in both Calgary and Edmonton,” said the report.
Read Mario Toneguzzi’s full article “First-time home buyers boosted by low rates, still have economic fears: Royal LePage” in the Calgary Herald (May 26, 2009).