How long does it take to save for a down payment?

It takes Calgary buyers a little more than six years to save for a down payment for the averaged priced home, slightly less than the national average of seven years, a new study has found. Zoocasa recently released a report that compared average prices in 19 Canadian cities with local median, annual household income, and average savings rates — based on Statistics Canada data — to determine how long it would take to save for the minimum down payment.

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‘You’re certainly not buying a tear-down’ for $659,395 in Calgary

Calgary is not your average resale real estate market, providing exceptional value for buyers’ dollars relative to the national average price in Canada, a recent study shows. Zoocasa, a national realty brokerage, recently published a report comparing Canadian cities’ average prices for single-family homes versus the national average price for all housing types.

Read more: https://tinyurl.com/3dwfydn6