Most people in Toronto hopeful real estate market will bounce back despite declining trends Toronto
The report compares the confidence levels of Baby Boomers, Generation X, Millennials, and Generation Z adults as it relates to current housing market trends. The data is based on a survey of 2,000 Canadians ages 18-77 in the Vancouver, Calgary, Toronto, and Montreal Census Metropolitan Areas.
Thirty-six per cent of those in Toronto between the ages of 18-77 report that they are now more likely to purchase a home in the next five years compared to their intentions to do so pre-lockdowns. Looking at Canada as a whole, nearly half of respondents ages 18-77 said they believe that a residential real estate purchase will perform the same or better than their other financial investments in the next year.
The report reinforces the notion that"confidence in the country's real estate market remains resilient despite recent shifts in market conditions," said Josh O'Neill, General Manager of Mustel Group.
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