Are you targeting the right Alberta market?
If you want to succeed in the 2013-2014 real estate market, you must understand the current Canadian Homebuyers Trends. According to the Canadian Homebuying Trends Survey conducted last December, the top two demographics purchasing real estate in Alberta are: couples and families. As a result, the majority of future homeowners are between 18 and 54 years of age. Below are other survey results we found interesting:
Image courtesy of RE/MAX
In Canada almost one in five purchasers is single- 45% of the single homebuyers are women. This could be a direct consequence of the increased number of women with advanced education, such as college diplomas and degrees. Two years ago, 72% of Canadian women between 25 and 44 years of age had completed post-secondary education, in contrast to 65% of men. These young professionals have: established careers, financial independence, and success- as a result they are approaching the real estate industry and seeking homeownership.
Other interesting facts:
- 50% of Albertan homebuyers believe housing values will rise in their area- 34% believe they will remain the same
- 45% of Albertan homebuyers are earning $50,000 to $99,999 while 38% are earning over $100,000
- 58% of Albertan homebuyers are spending between $250,000 and $500,000 on a home
- 32% are making more than a 30% down payment
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