July Buyers Survey Results

The results of OMREB's JULY 2013 Buyers Survey are now in and posted!  A total of 256 respondents participated in this survey – representing 62% of the 412 OMREB sales representatives who acted as Buyers Agents, and 38% of the 683 deals closed on behalf of Buyers in July.

 

JULY SURVEY SUMMARY

Property Type:

22.8% of purchases were by Move-Up Buyers  (down from 23.7% in June)
17.9% by First Time Buyers  (up from 17.5%)*
11.0% buying Revenue/Investment Property  (up from 8.6%)*
10.8% buying Recreation Property  (up from 5.1%)*
9.8% moving from Single Family Home to Strata Unit  (down from 17.1%)
5.7% moving from Strata property to Single Family Home  (up from 4.3%)*
4.5% moving into Retirement Home/Seniors Community  (down from 4.7%)

* During the month of July, there was a significant increase in purchases by revenue/investment and recreation property buyers, and by home owners downsizing to strata units, while other categories saw a drop or remained the same as the previous month.

Buyer Type (Family Dynamic):
24.0% Two Parent Family/Children (up from 20.3%)**
23.2% Empty Nester/Retired (down from 28.6% in June)
23.2% Couple without Children (down from 27.8%)
14.2% Single Male (up from 6.8%)**
12.2% Single Female (up from 11.3%)**
2.0% Single Parent with Children (down from 2.3%)

** In July, there were more purchases by two parent families with children, and by singles (males in particular), while all other categories saw decreases.

Moving From:
54.7% from Within OMREB Board Area  (down from 58.8% in June)
14.8 % from Alberta (down from 18.8%)
12.1% from Lower Mainland/Vancouver Island  (up from 7.5%)***
10.5% from Other Areas in BC  (up from 8.3%)***
3.5% from Eastern Canada/Maritimes (up from 0.8%)***
2.0% from Saskatchewan/Manitoba (down from 3.4%)
1.6% from Outside Canada  (up from 1.1%)***
0.8% from NWT/Yukon (up from 0.4%)

*** Compared to June, there were more buyers moving from other areas of BC and the Lower Mainland/Vancouver Island, as well as more migration from Eastern Canada and Maritime provinces, but less movement from within the Board area and fewer purchasers from Alberta, Saskatchewan and Manitoba during July.

JULY 2013 RESULTS & HIGHLIGHTS:  (Click on highlighted text for links)
* 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 35 months (since September 2010) to show trends.
* 2013 pie charts for first 6 months - showing averages compiled for all five Survey categories 
* 2012 and 2011 pie charts to compare.

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