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Number of People Intending to Buy Homes Sees Biggest Drop in 20 Years

Blog by Brad Herman | April 13th, 2013

What’s being touted by some as “disappointing,” may actually be a sign that buyers today are willing to hold out, either for lower prices, or for a time when the market seems more favourable to them.

Recent results from an RBC survey show that only 15 per cent of those surveyed plan to purchase a home within the next 2 years. That’s not many Canadians out in the housing market, and it’s remarkably down from the 27 per cent that the same survey showed in 2012. That decline is so remarkable in fact, it’s the sharpest drop the survey has seen in its 20 years of existence.