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25% of Ontario Renters Now More Likely to Buy Home Due to Pandemic: OREA

And this is unexpected turn of events.
The COVID-19 pandemic suggested the early collapse of the values of real estate.
The new safety measure may, actually, improve market activities.
Ontario renters who are active in the real estate market are now nearly twice as likely to express interest in buying a home due to the pandemic, according to new new findings from Nanos Research for the Ontario Real Estate Association’s monthly Pulse Check on Consumer Attitudes.
In fact, due to the effects of COVID-19, 25% of Ontario renters who are active in the real estate market say they are more interested in buying a home now, compared to just 13% who say they are less interested, while 54% report they are just as interested now as they were pre-pandemic.
The survey found that renters are also more likely to report they are actively looking to buy a home right now (63%) than homeowners (47%), with millennials, those aged 18-34 (62%), and those 35-54 (59%) more actively looking than older Ontarians.


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