Poll looks at housing market

Despite rising house prices, or perhaps because of them, Canadians are as invested in the housing market as ever.

A majority of Canadians believe now is the time to get into the housing market (59%), instead of waiting until next year (41%).

The results were attained through the RBC Homeownership Poll.

More Canadians, however, say they are unlikely to buy within the next two years (73%).

A majority of Canadians believe housing is a good investment (88%) and more than two-thirds (68%) believe the value of their home has increased in the past two years.

“There’s a mix of opinions on the housing market, as Canadians still feel confident about real estate but are a little uncertain about where the market is heading and when it makes sense to buy,” said Marcia Moffat, head of home equity financing, RBC. “Considerations such as affordability and available housing choices may be the difference between intent and reality when purchasing a home.”

Market sentiment shifting to sellers, more expect stable housing prices.

The RBC poll found that after four years of sentiment favouring a buyer’s market, the tide appears to be turning. More Canadians surveyed this year feel the current housing market is a seller’s market, where sellers have the advantage because the number of buyers exceeds the number of homes available (27%, up from 20% in 2011).