The Toronto Real Estate Board published the results of a survey of recent and intending home buyers which reveals some interesting insights about Toronto home owners and home buyers.
Below are my top 5 takeaways
1. Homeowners have been living in their current home for 10 Years
"On average, GTA homeowners have been living in their current dwelling for 10 years. If homeowners who purchased over the last year are factored out, the average number of years that owners have lived in their current dwelling increases to 14."
2. Condos more popular with seniors than with millenials
When the report looked at the type of home buyers in different age groups planned to buy, a greater percentage of seniors (55+) planned to buy a condo compared to millenials (18-34).