Here’s What’s Driving the Hesitation (And Why It Could Be a Smart Time to Act)
Despite improving conditions in Canada’s housing market, including lower borrowing costs and more balanced pricing, many first-time buyers are approaching their homeownership journey with caution.
A new national survey from Royal LePage shows that just 13% of Canadians are actively working toward buying their first home in the next two years. Even among them, the majority (82%) plan to wait 12 to 24 months before making a move.
So, what’s behind the hesitation?
It’s not a lack of interest; it's a strategy. Many prospective buyers are still in the research phase: 51% are actively exploring neighbourhoods, and 49% are browsing online listings, yet only 19% are currently viewing homes in person. This suggests a high level of behind-the-scenes activity — with buyers quietly preparing rather than rushing in.
Financial dynamics are also shifting. While past generations often leaned on family assistance, more than half of first-time buyers today expect to go it alone. Still, 41% anticipate some form of help — whether through gifts, loans, or co-signing arrangements.
Another revealing insight? Almost half (49%) of hopeful buyers are aiming for a detached home — but many may need to adjust expectations. Condos, townhomes, and move-in ready properties are rising as more attainable options, especially in sought-after communities like Burlington and Oakville.
Top buyer priorities include:
Saving at least 20% for a down payment (53%)
Choosing location over commute (42%)
Finding a home that requires minimal renovations
What does this mean for you — especially if you're local?
The current market offers a rare mix of opportunity and time. With borrowing rates stabilizing and competition less intense, prepared buyers can take advantage of softer conditions — especially those willing to move before demand rebounds.
If you're thinking of buying — even if it's still a year or two away — now is the time to start planning.
At The Linda Maguire Team, we’ll help you understand your options, define your goals, and build a strategy that makes sense for your timeline. No pressure, just honest guidance to help you make confident, informed decisions.
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