Edmonton Real Estate Blog

Canadian Home Ownership Rates

For The First Time In Forty Five Years Canada Experiences Falls In Homeownership Rates

Are you put off from homeownership by the ever increasing real estate prices in Canada these days? Statistics Canada have released the latest census for 2016 and it clearly shows that homeownership rates are declining. The rate of homeownership in Canada is now lower than it has been for the past ten years and it is the Millennials that are suffering the most.

Rate Of Home Ownership In Canada

More Than 45 Years Since A Decline Like This

The Census 2016 records indicate that homeownership rates across the country are falling. Across the whole of Canada the homeownership rate stands at 67.8%. Compared to the 2011 Census this is a 1.73% drop. If you look at the figures over...

Edmonton Real Estate Stats November 2017

“Although the year-over-year growth in sales volume is encouraging, the surge is likely related to consumers trying to complete purchases before new restrictive borrowing rules come into force in the new year,” said James Mabey, Chair of the REALTORS® Association of Edmonton.

“There are fewer listings coming onto the market now as we end 2017,” said Mabey. “Looking forward to 2018, we will see higher inventory levels than in previous years, coupled with new mortgage rules that may slow the market, at least temporarily, as consumers adjust their expectations in response to the new lending rules. If this is the case, we may experience some market tightening in the new year.”

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