Less than half of Canadians believe owning a home is an attainable goal: report

Canadians think buying a home is a great investment, but don’t believe it’s an attainable goal.

That’s according to a recent report from RE/MAX Canada, consulting with realtors across the country to predict the state of the national housing market in 2025.

According to the report, Ontario is experiencing a mix of market types because of lowering interest rates.

In Waterloo Region, the market is expected to balance out in 2025.

Realtors with RE/MAX expect the average price of homes in the Kitchener-Waterloo area to rise by 6 per cent next year, amongst the biggest price jumps in Ontario behind only Simcoe County.

Canada’s sellers markets are located along the coasts, as RE/MAX predicts cities like Halifax, NS, Vancouver, BC, and St. John’s, NL, to all have more housing demand than housing supply.

Ontario cities like Hamilton and Burlington are unique in that they’re expected to shift into buyers markets over the next calendar year.

Only about one third (36 per cent) of Canadians are optimistic that conditions in the country’s housing market will improve, and RE/MAX Canada expects the national average home price to rise by five per cent in 2025.

In spite of those rising prices, according to a Leger survey, about three quarters (73 per cent) of Canadians believe home ownership is the best investment they can make, but, less than half (49 per cent) think owning a home is an attainable goal.