Buyers in search of affordable homes willing to make trade-offs, survey finds — SkimNews
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- Re/Max Canada survey found 65% of respondents would compromise in at least one way to afford a larger or more suitable home, with 63% willing to relocate and 47% open to moving up to an hour from their current community
- Re/Max broker data shows 81% of analyzed markets saw annual home sales declines in the first half of the year, with 32% of markets now in buyers' favour — up from 15.2% a year earlier
- Survey respondents reported financial trade-offs beyond the property itself: 41% would cut discretionary spending, 24% would extend their amortization period, 17% would take a second job, and 17% would delay retirement or other long-term savings
- Don Kottick, president of Re/Max Canada, said buyers are "identifying what matters most and where they have room to be flexible" rather than giving up on ownership
- Leger conducted the online survey between July 17 and 19, with 1,532 Canadian adults responding; the Canadian Research Insights Council notes online surveys cannot be assigned a margin of error
Why it matters: Buyers' market conditions have more than doubled in a year — from 15.2% to 32% of markets — yet 65% of Canadians still say they must compromise to afford a home. The 17% willing to take second jobs or delay retirement shows the depth of affordability strain even as sales slow and price growth moderates in most markets.
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