After the release of CMHC’s First-Time Homebuyers Survey results for 2015, we are left with some interesting findings about first-time buyers in Canada, namely that they are increasingly going online for their home buying needs.
“For many Canadians, buying their first home is the single, largest purchase they have ever made.” says Nathalie Fredette, Vice-President, Client Relationship Management. “Our aim is to provide mortgage brokers, lenders and other industry professionals with valuable information and useful tools so they can better guide their clients through this major life event.” [CMHC]
Some of the highlights of online usage for first-time buyers are:
- 83% of first-timers researched online
- 36% used real estate websites as part of their online research
- 37% used social media sites as part of their online research
- 26% used a mobile device to carry out online research
- 34% said family members were their main influencers in the home buying process
- 20% said realtors were main influencers in the home buying process
More details on the CMHC First-Time Homebuyers Survey can be found online. You can also follow in the discussion on Twitter with #FirstTimeBuyers.
