A new report by NerdWallet Canada titled the 2024 Home Buyer Report asked Canadians about their home buying and selling plans for this year.

The report shows that 49 percent of Canadians plan to buy a home in the next five years, which is up from 43 percent in their 2023 report. Of that 49 percent, only 11 say they plan to buy a home in the next 12 months.

The report also shows that more than three-quarters, 76 percent of Canadians who plan to buy a home in the next five years say they intend to use a down payment, but 16 percent haven’t started saving yet.

Other stats in the report show 21 percent of homeowners say they worked with mortgage brokers, 12 percent availed of the First-Time Home Buyer Incentive and 11 percent had down payment assistance from family.