Real estate is a local game. No two markets are the same and understanding your client base is crucial to being a top producer. To help, OREA is introducing The Ontario Home Ownership Index. This new initiative will aid members in learning more about the public’s views on the real estate market across the province. The Index will also give REALTORS® the ability to drill down to local and regional levels, showing current market trends.
In order to keep the Index current, public opinion polling will be conducted among Ontario consumers twice a year to explore opinions of the real estate market, the value of home ownership, intentions to buy and sell real estate, housing trends and more. OREA’s goal is to provide you with the latest consumer attitudes and behaviours to help you do business as a real estate professional.
The Ontario Home Ownership Index is a province-wide research survey conducted by a leading global polling firm, Ipsos Reid. The benchmark wave of the index, conducted in the fall 2013, was set to a baseline of 100 points and will be conducted semi-annually to track the outlook and expectations of the market over time. In the current wave in the spring 2014, we saw that Ontarians across the province are optimistic in their market outlook and perceptions of home ownership. This was highlighted in a rise of the Index to 108, reflective of an overall improvement in sentiment of 8% in the index since the fall.
It’s not enough to just share information, OREA also wants to help REALTORS® connect with consumers. To do this OREA is also launching “Pulse of Ontario’s Real Estate Market” infographics to highlight key findings from the Index in an easily digestible, shareable and printable social media piece. We encourage you to share them with other professionals and clients.