A Royal LePage Survey finds nearly half of Canadians aged 25 to 35 own their home; one quarter of these homeowners have purchased a property since the onset of the COVID-19 pandemic. 68% of non-homeowners aged 25 to 35 intend to purchase a home within five years.

In the Prairie Provinces, 53 per cent of residents aged 25 to 35 own their home. Of those, 32 per cent purchased a home since mid-March of last year. Among those who do not currently own a home, 65 per cent say they intend to buy within the next five years.

Phil Soper, president and CEO, Royal LePage says the pandemic provided an unexpected prize for young Canadians — a path to home ownership. Soper says, “Mortgage rates fell to historically low levels and the competition for entry-level housing lessened.”