|First-time Buyers Driving Canadian Market|
Motivated by the threat of higher interest rates down the road, first-time buyers are contributing to strong upward momentum in residential housing markets across Canada, according to a RE/MAX report.
The RE/MAX First-Time Buyers Report, highlighting trends and developments in 19 major Canadian centres, found that low interest rates and balanced market conditions have provided significant impetus in 2011, particularly at lower price points. Just over 30 percent of markets are reporting sales in excess of 2010 levels as a result, while almost 70 percent have experienced an upswing in average price.
Two RE/MAX regions in Canada created informative YouTube videos summarizing the consumer report. View the RE/MAX of Western Canada video .