{"id":22177,"date":"2023-05-17T06:00:00","date_gmt":"2023-05-17T10:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=22177"},"modified":"2023-05-15T12:57:58","modified_gmt":"2023-05-15T16:57:58","slug":"zoocasa-spring-survey-2023","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/zoocasa-spring-survey-2023\/","title":{"rendered":"Most Canadians Still Value Homeownership Despite Being Out of Reach for Many: Survey"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Markets across the country are feeling the effects of increased buyer activity, with both prices and sales continually rising month-over-month. In April, <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/blog\/creb-april-2023\/\" target=\"_blank\">Calgary\u2019s benchmark price reached a new monthly record high<\/a>, while <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\" target=\"_blank\">Toronto<\/a> and <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/vancouver-bc-real-estate\" target=\"_blank\">Vancouver<\/a> markets have been experiencing modest price growth as well. With buyers coming out in full force, demand is far outweighing supply and it&#8217;s apparent that low inventory is a major issue for the country. But how is the current real estate climate affecting buyers\u2019 outlooks? To find out, we surveyed over 1,200 Zoocasa readers on their housing preferences, real estate plans, and more.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Enjoying our content? Subscribe to our free <\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>weekly newsletter<\/em><\/strong><\/a><strong><em> to get Canadian real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Canadians Overwhelmingly Value Homeownership&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Despite affordability and inventory concerns, 76.1% of our respondents said owning their own home is important to them. Whether this is a reflection of soaring rental costs or long-held beliefs about the importance of owning property could be debated, but one thing that is clear is that buyers are facing obstacles achieving their homeownership goals. 36.2% of respondents strongly disagree that homeownership is within reach for most Canadians.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"472\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-4-750x472.png\" alt=\"\" class=\"wp-image-22185\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-4-750x472.png 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-4-300x189.png 300w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-4-768x483.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-4-1536x967.png 1536w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-4-2048x1289.png 2048w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-4.png 600w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Buyer sentiment indicated that affordability is largely the reason behind this. The majority of respondents, 27.8% and 22.7%, said housing affordability in their desired location is either not at all affordable or not affordable, and 63.5% do not expect housing to become more affordable in the next year.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/top-canadian-cities-to-buy-in-real-estate-in-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Top Canadian Cities to Buy Real Estate in 2023<\/strong><\/a><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">However, the forecast for buyers is not completely bleak. According to our survey, the Bank of Canada&#8217;s <a href=\"https:\/\/www.zoocasa.com\/blog\/boc-april-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">announcement to hold interest rates<\/a> has had a positive impact on the majority of buyers and 67.4% of respondents said they plan to buy a home in the near future. In fact, though respondents feel housing is unaffordable in a broad sense, when it comes to themselves, sentiments are more positive; 63.8% of Zoocasa readers said they\u2019re able to afford the average home in their area.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"472\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-3-750x472.png\" alt=\"\" class=\"wp-image-22186\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-3-750x472.png 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-3-300x189.png 300w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-3-768x483.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-3-1536x967.png 1536w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-3-2048x1289.png 2048w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-3.png 600w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Detached Homes Most Sought After But Interest in Other Property Types Growing<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The last time we surveyed Zoocasa readers in the <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/blog\/zoocasa-survey-2022\/\" target=\"_blank\">fall of 2022<\/a>, 61.8% of respondents were planning to buy a detached home, 16.4% were planning to buy a condo\/apartment and 10.1% were planning to buy a townhouse. Eyes are still on detached homes with 55.9% of respondents interested in buying a detached property, but a larger percentage of respondents are looking at more affordable homes. 19.4% of buyers are looking to buy in the condo sector, and 13.6% of buyers are planning to buy a townhouse. Detached homes in the GTA showed the<a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/blog\/trreb-april-2023\/\" target=\"_blank\"> largest sales growth among property types<\/a> in April 2023. Vancouver detached homes experienced the largest price increases last month among all property types, indicating it&#8217;s not just Zoocasa readers who are eyeing detached homes.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"472\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-5-750x472.png\" alt=\"\" class=\"wp-image-22187\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-5-750x472.png 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-5-300x189.png 300w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-5-768x483.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-5-1536x967.png 1536w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-5-2048x1289.png 2048w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-5.png 600w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"472\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-8-750x472.png\" alt=\"\" class=\"wp-image-22188\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-8-750x472.png 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-8-300x189.png 300w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-8-768x483.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-8-1536x967.png 1536w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-8-2048x1289.png 2048w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Graphs-8.png 600w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Location was considered the most important feature when buying a home, followed by the number of bedrooms, having a yard, and proximity to entertainment. Respondents were pretty split on whether they preferred the city or the suburbs, with 42% looking in the suburbs and 40.8% looking in urban areas.\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/buyers-sellers-markets-canada-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>The Hottest Buyers\u2019 and Sellers\u2019 Markets in Canada for Spring 2023<\/strong><\/a><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Respondents also had varying reasons for buying a home, the most popular being wanting a bigger house, investment intentions, downsizing, and simply wanting a nicer home. So when will these prospective buyers enter the market? At 62.8%, most respondents are holding off a year or more before buying their next home, and 19.3% plan to enter the market within the next 7-12 months.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re like our readers and are thinking about entering the market in the near future, <a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\" rel=\"noreferrer noopener\">give us a call<\/a>! We can help you prepare and plan for your future real estate goals.&nbsp;<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Looking to enter the spring market?<\/div>\n<div class=\"cta-body\">Contact us today to speak to a Realtor in your area<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/sell-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Markets across the country are feeling the effects of increased buyer activity, with both prices and sales continually rising month-over-month. In April, Calgary\u2019s benchmark price reached a new monthly record high, while Toronto and Vancouver markets have been experiencing modest price growth as well. With buyers coming out in full force, demand is far outweighing [&hellip;]<\/p>\n","protected":false},"author":132,"featured_media":22179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override":[{"single_blog_custom":"","sidebar":"","second_sidebar":"","share_position":"","share_float_style":"","post_date_format":"","post_date_format_custom":"","post_reading_time_wpm":"","zoom_button_out_step":"1","zoom_button_in_step":"1","number_popup_post":"1"}],"image_override":[{"single_post_thumbnail_size":"","single_post_gallery_size":""}],"trending_post_position":"","trending_post_label":"","sponsored_post_label":"","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo":"","sponsored_post_desc":""},"jnews_primary_category":{"id":""},"footnotes":""},"categories":[1111],"tags":[],"class_list":["post-22177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canada"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Most Canadians Still Value Homeownership Despite Being Out of Reach for Many: Survey | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"A recent Zoocasa survey found that despite the challenges of affordability, the majority of Canadians still believe in the value of homeownership. 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