OMREB February 2011 Survey Highlights:
A recent survey of buyers agents in the Central Okanagan, North Okanagan and Shuswap regions revealed that:
31.9% of purchases were by First Time Buyers, and 24.2% by Move Up Buyers; 26.4% of Buyers were Two Parent Families with Children, 25.3% Couples Without Children, 16.5% were Single Females, 16.5% Empty Nesters/Retirees, 7.7% Single Parents with Children, and 6.6% Single Males.
55.8% financed via Conventional Mortgage (with more than 20% down), 31.6% by High Ratio Mortgage (less than 20% down), and 11.6% paid by Cash.
69.9% were from within OMREB Board Area, 8.6% from Lower Mainland/Vancouver Island, 8.6% from Other Areas in BC, and 6.5% from Alberta; 64.2% of purchases were in Kelowna/West Kelowna, 20% in Vernon/Coldstream, and 4.2% in Salmon Arm.
Click here for a summary of February results (pie charts have been added for quick reference), and here for highlights in comparison to January.
Jason Neumann