COVID-19 Stokes Canadian Homebuying Intentions: MPC Report

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Mortgage Renewal in Cambridge, ON

The global pandemic may have brought the Canadian real estate sector to a near standstill this spring, but over the longer term it appears to have stoked homebuying intentions.

Fourteen percent of current renters say they plan to purchase a home within the next 12 months, up from 7% reported in late 2019, according to new survey results released by Mortgage Professionals Canada. The percentage of renters who say they would never purchase a house has also fallen by more than half, from 32% at year-end 2019 to 14% post-COVID.

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Original Article Source Credits:  CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By: Steve Huebl

Original Article Posted on: August 10, 2020

Link to Original Article: https://www.canadianmortgagetrends.com/2020/08/covid-19-stokes-canadian-homebuying-intentions-mpc-report/

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