The survey, published on June 5, found over two-thirds or 68 per cent of Canadians plan to wait for lower rates before they purchase a home. It said half of Canadians are deferring their home purchases because of their concerns about the economy, while 20 per cent are no longer sure if or when they will buy a home at all.
A different housing poll released by CIBC on the same day found that despite concerns about affordability, Canadians continue to see homeownership as an important goal and a great source of pride.