Gen Z and Immigrants Enter Ontario's Homebuyer Scene

As Ontario's housing market sees fewer potential buyers, a Tarion survey shows a rise in Gen-Z and immigrant homebuyers. From 750,000 in 2023, the number of Ontarians considering new homes dropped to 500,000. Factors like high interest rates and living costs deter many. Yet, new homes remain popular, especially among those born after 1996 and immigrants, with 56% of recent arrivals planning to buy, up 17% from last year. Urban living is increasingly favored over suburban.