Clipped from www.canadianmortgagetrends.com
If you've ever wondered how vital first-time buyers are to the real estate market, here's the answer.
The Altus Group's "FIRM Residential Mortgage Survey" shows first-time home buyers accounted for about half of all homes sold in Canada in the last two years. That's more than a quarter million sales each year.
“First-time buyers make the home-sales world go around," states the report. They play "an important role as buyers in the newly built market and also in purchasing existing homes..."
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