Calgary is a young city, and it has the homebuyers to prove it.

According to a survey from BMO Economics, Calgary is home to the youngest first-time homebuyers in all of Canada. The survey showed the average age of those Calgarians entering the housing market for the first time to be just 32-years-old compared to the national average of 36-years-old.

With the options for some first-time homebuyers growing more restricted, buyers are waiting a little longer or spending a little more to find the home of their dreams.

According to a new report from BMO, first time homebuyers in Calgary were more willing to increase their budget than anywhere else in Canada with 54 per cent of Calgarians prepared to spend more. As a result, buyers are also expanding their search to include a greater range of properties.

Calgary has taken the title of the strongest major housing market in the country. BMO Economics released a report Canadian Housing Update: Tale of Four Cities which examined the state of housing markets in four Canadian cities.

Calgary's housing market was strong and now has shown the fastest growth in 15 years out of Vancouver, Toronto and Montreal.