In the near-term, watch for some potential “pull forward” of sales as buyers try to get in before a stricter stress test takes effect June 1 for uninsured mortgages .
“Buying a home is one of life’s biggest financial decisions.
Just 6% of homeowners planned to sell their home pre-pandemic, and 77% say that hasn’t changed, according to a recent poll from CIBC.
The CIBC survey also found that half of renters say they are unable to purchase due to high home prices.