April 2013 Buyers Survey Results

The results of OMREB's APRIL 2013 Buyers Survey are now available. A total of 226 respondents participated in this survey – representing 58% of the 392 OMREB sales representatives who acted as Buyers Agents, and 38% of the 595 deals closed on behalf of Buyers in April.

APRIL SURVEY SUMMARY

Property Type:

25.9% by First Time Buyers (up from 16.2 in March)*
18.6% of purchases were by Move-Up Buyers (down from 24.6% )
11.8% buying Revenue/Investment Property (up from 10.6%)*
10.5% moving from Single Family Home to Strata Unit (same as March – 10.6%)
5.5% moving into Retirement Home/Seniors Community (down from 7.8%)
4.5% moving from Strata property to Single Family Home (down from 6.1%)

* During the month of April, there was substantial increase in purchases by First-Time Buyers and a nominal bump-up in Revenue Property purchases by Investors, while other categories saw a drop or remained the same as the previous month.

Buyer Type (Family Dynamic):
24.8% Two Parent Family/Children (up from 23.1% in March)**
22.6% Empty Nesters/Retired (down from 27.5%)
21.7% Couple without Children (down from 25.8%)
12.8% Single Male (up from 7.7%)**
10.6% Single Female (down from 12.6%)
5.3% Single Parent with Children (up from 2.2%)**

** In April, there was an increase in purchases by Two Parent Families with Children, and a significant rise in purchases by Single Males and Single Parents with Children, while other categories saw decreases.

Moving From:
56.6% from Within OMREB Board Area (down from 57.6% in March)
19.0% from Alberta (up from 17.9%)***
11.1% from Lower Mainland/Vancouver Island (up from 8.7% )***
9.3% from Other Areas in BC (down from 10.3% )
1.3% from Saskatchewan/Manitoba (down from 2.7%)
1.3% from NWT/Yukon (up from 0%)***
0.9% from Outside Canada (down from 1.1%)
0.4% from Eastern Canada/Maritimes (down from 1.6%)

*** Compared to March, there was more movement from Alberta, Lower Mainland/Vancouver Island, and NWT/Yukon during April, and less migration from all other areas.

APRIL 2013 RESULTS & HIGHLIGHTS:
* Full summary of survey results with pie charts
* This month's highlights
* “Who is Buying Homes in the Okanagan-Shuswap?”- hand-out

2011-2013 PIE CHARTS – Plus 2010-2013 Averages:
* Compiled averages for the two main categories - Buyer Type and Where From - during the past 32 months (since September 2010) to show trends.
* 2013 pie charts for first quarter - showing averages compiled for all five Survey categories
* 2012 pie charts and 2011 pie charts to compare.

REALTORLink Archive: Monthly Buyers Survey results, averages and highlights are posted and archived for easy reference and easy download on OMREB's Statistics page on REALTORLink.

Christiana Pfeifer

Christiana Pfeifer

REALTORĀ®
CENTURY 21 Executives Realty Ltd.
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