Repeat buyers to make up more than 70% of home sales

January 22, 2013 - Updated: January 22, 2013

 

According to a report by CTV News, a survey says 70 per cent of home sales in the next 24 months will be to repeat buyers with some previous experience as owners.

The real-estate marketing organization says second-time or multi-time purchasers will be more fiscally conservative and don't plan to over-extend themselves.

And it says slightly more than 80 per cent of potential buyers surveyed believed that housing values in their area will rise or remain the same.

The survey says 42 per cent of those surveyed said they expected to spend between $250,000 and $500,000.

The findings are in line with other research that found first-time buyers had been discouraged by stricter mortgage rules since last summer and affordability issues.

But the survey found first-time buyers aren't sitting totally on the sidelines and will make up a third of the market.

The survey also says almost one in five buyers will be single.

 


Tagged with: home sales 2 years real estate in keswick real estate in georgina
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