Facts On Home Buyers

Here’s some fresh data from CMHC’s newly-released Renovation and Home Purchase Report:

6% of Canadian households bought a home in 2009
43% were first-time buyers (up from 36% in 2008)
35% of buyers were age 18-34
66% bought a home that was more expensive than their previous residence; 22% bought a less expensive home
59% bought a larger home; 24% downsized
74% bought an existing home; 22% bought new construction
55% purchased a single-detached home; 18% bought an apartment condo
5% of households intend to buy in 2010; 53% of those are renters
42% of those intending to purchase, plan to make a down payment of 20% or more.
The report surveyed 5-10 metropolitan areas across the country.