There is a lot of information out there on the Internet and sometimes too much so people avoid checking it out. I have gathered some basic information about Mortgage and Housing Statistics to share which may be of interest.
Mortgage and Housing Statistics
Market statistics
7 percent of condos in Vancouver are empty
2.3% of condos are owned by foreign buyers
Investor units support rental demand as 1/3 of Canadians rent rather than own.
Sales up 30-40% in the Fraser Valley for condo, town homes and detached homes. Prices relatively flat for condo and town homes while detached homes rose by 10%.
http://www.rew.ca/news/infographic-fraser-valley-real-estate-august-2015-1.2049483
Sales of condo and town homes up 18-32% in Greater Vancouver over sales of detached homes at just over 8%.
Prices of condo and town homes up 7% while detached homes up 17%.
http://www.rew.ca/news/august-ends-sizzling-summer-for-vancouver-real-estate-rebgv-1.2047938
Consumer financing statistics
42% of consumers us a mortgage broker – number up year over year
55% of first time home buyers us a mortgage broker
33% of home owners refinancing their home use a mortgage broker
50% of home owners don’t look at their options at renewal and simply sign the first offer with their lender
Source: Canada Mortgage and Housing, REW.ca.