Canadian home buyers forge on

Agence France-Presse

Entry-level purchasers are now the engine driving home-buying activity in almost every major center in Canada, said the Re/Max realty report.

Despite a worsening recession, buyers "are continuing to venture forward, undeterred by tighter lending criteria," said the company's regional vice president Elton Ash.

They are "taking advantage of reduced carrying costs, rock bottom interest rates and lower house prices," the report explained.

Realtors hope the flurry of activity in the lower-end of the market will help kick-start overall sales, heading into the usually busier spring and summer sales seasons.