The newly released 2022 Housing Affordability Report reveals that 68 per cent of Canadians are willing to make at least one sacrifice to buy a home they can afford, according to a new Leger survey commissioned by RE/MAX Canada. The most common concession is relocation, as identified by 64 per cent of survey respondents. Read the full report to learn more, and share with your clients to keep them informed.
56 per cent say that moving to a different neighbourhood/community would be one of the top three sacrifices they would make.
Based on average residential selling price, Brandon, MB ranked as the most affordable market in 2022. This is followed by Regina, SK (which remained on the list year-over-year), St. John’s, NL, Moncton, NB and Red Deer, AB.
Based on the share of income spent on mortgage payments, Red Deer, AB ranked as Canada’s most affordable housing market, with 25.86% of average monthly income spent on the average-priced home.
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Source: RE/MAX Canada