US EditionCanada's real estate market is primed for buyers - but first-timers are moving at their own pace
Declining rates and higher inventory improve conditions, yet 53% of first-time buyers plan down payments of at least 20%, with many delaying purchases to save more.
- A 2025 survey shows Canadian first-time homebuyers face improving market conditions with rising activity amid lower interest rates and softening prices as of September 25.
- This uptick follows a Bank of Canada rate cut to 2.5 percent and higher inventory levels, although ongoing economic uncertainty and hopes for further rate reductions cause many buyers to delay purchases.
- Many buyers prioritize affordability by seeking smaller homes or properties in more affordable areas, with 54 to 60 percent reporting such preferences and a growing share relying on financial assistance or mortgage insurance.
- Phil Soper, CEO of Royal LePage, noted that declining interest rates and steady or slightly softened home prices in certain areas have created more favorable conditions for potential buyers, with over a third of real estate professionals observing a rise in activity among first-time homebuyers this year.
- These conditions suggest cautious optimism for first-time buyers entering homeownership, though affordability challenges persist and many continue paced, methodical purchasing plans across Canadian provinces.
11 Articles
11 Articles
More first-time homebuyers entering housing market but delay purchases as prices dwindle: study
Royal LePage released the results a survey today stating first-time homebuyers are moving at their own pace while highlighting trends from prospective homebuyers with feedback from real estate professionals.
Canada's real estate market is primed for buyers - but first-timers are moving at their own pace
Highlights: 13% of Canadian adults are working towards their first residential property purchase within the next two years; a majority of them plan to buy in the next 12 to 24 months. More than half (53%) of first-time buyers plan to put at least 20% down on their purchase; while 39% will not and will therefore need to buy mortgage insurance. 41% of first-time buyers say they will receive financial assistance from family or friends, while 51% w…
First-time buyers know what they want — but not when to buy
QUICK HITS Thirteen per cent of Canadian adults are working towards their first residential property purchase within the next two years; a majority of them plan to buy in the next 12 to 24 months More than half (53 per cent) of first-time buyers plan to put at least 20 per cent down on their purchase; while 39 per cent will not Forty one per cent of first-time buyers say they will receive financial assistance from family or friends, while 51 pe…
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