From first-time homebuyers what I m seeing is a lot of people reaching out, really since the summer, and trying to understand: Is it the right time for them to buy? said Patrick McKinnon, a sales representative at One Group Toronto Real Estate. They re seriously considering doing so now while they still have the opportunity …. it is the best time it s been to buy all year.
For the group of buyers drawn to entry-level condos, McKinnon says, the conditions are ripe. Buyers, often in their 20s, have an opportunity to live downtown or potentially have a rental property down the line.
First-time homebuyers see new opportunities, challenges in pandemic economy - Business News castanet.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from castanet.net Daily Mail and Mail on Sunday newspapers.
Anita Balakrishnan
A real estate sold sign is shown in Oakville, Ont., on Sunday, Dec.20, 2020. A topsy-turvy real estate market has opened up new opportunities for first-time homebuyers this year â but those seeking to take advantage still face major hurdles. THE CANADIAN PRESS/Richard Buchan December 30, 2020 - 11:04 AM
TORONTO - With mortgage rates at historic lows and price growth tapering in certain markets, the COVID-19 pandemic has presented both opportunities and challenges for first-time homebuyers.
New buyers are seeing condo prices come within reach in downtown areas awash with vacant high rises. But young families are also being priced out of starter homes in suburbs at a faster rate.
The Quebec Professional Association of Real Estate Brokers (QPAREB) presents its review of 2020 following the impact of COVID-19, highlights of a new survey on buying and selling intentions, and its 2021 forecasts for the residential real estate market in the Montreal Census Metropolitan Area (CMA), the Quebec City CMA and the province of Quebec.
Highlights: Review of the 2020 resale market
Record-setting sales in 2020, with 110,000 projected transactions;
A 15 per cent increase in sales and a 29 per cent decrease in listings, all property categories combined;
Significant increase in single-family home sales (+17 per cent) from January to November;
Sales in non-CMAs increased by 28 per cent from January to November while sales in CMAs increased by 10 per cent, which demonstrates an acceleration in movement to areas outside the main cities;
Record-setting sales continued in November on Montreal s real estate market thesuburban.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesuburban.com Daily Mail and Mail on Sunday newspapers.