Survey Results
Current New Homeowners - Profile Nearly 60% of current new homeowners in 2020 (58%) were over the age of 45 years, which was consistent with 2018 (59%). Over 40% of current new homeowners reported having annual household incomes of $100,000 or more, up from 32% in 2018.
Figure 30: Age Distribution of New Homeowners, 2020
Figure 31: Household Income of New Homeowners, 2020
11%
16%
40%
42% Have a HH income of $100K +
9%
31%
22%
18%
18%
33%
2%
Less than $50,000
$50,000 to less than $100,000
18-34
35-44
45-54
55+ Prefer not to say
$100,000 to less than $200,000
$200,000 or more
Prefer not to answer
Base: (n=535)
Base: (n=535)
Consistent with previous surveys, most new homeowners were repeat home buyers. Approximately two-thirds were repeat home buyers (65% compared to 70% in 2018) while one-third of new homeowners were first-time home buyers (35% compared to 30% in 2018). The proportion of new homeowners living in multi-unit dwellings continued to increase, reaching a high of 70%.
Figure 32: : First-Time and Repeat Buyers, 2020
Figure 33: Type of Home, 2020
30%
70% Bought a multi-unit home
65% Were repeat buyers
35%
65%
70%
First-Time
Repeat
Single Detached
Multi-unit
Base: (n=535)
Base: (n=535)
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