August Buyer Survey Results

The results of OMREB's AUGUST 2014 Buyers Survey are now in and posted!  A total of 288 respondents participated in this survey – representing 61% of the 476 OMREB sales representatives who acted as Buyers Agents, and 34% of the 842 deals closed on behalf of Buyers in August.

AUGUST SURVEY SUMMARY
Property Type:

25.4% of purchases were by Move-Up Buyers (down from 29.2% in July)  
17.3% by First Time Buyers  (up from 14.9%) *
13.7% moving from Single Family Home to Strata Unit (up from 12.9%) *
11.2% buying Recreation Property  (up from 10.2%) * 
9.0% buying Revenue/Investment Property  (down from 9.2) 
6.5% moving into Retirement Home/Seniors Community  (down from 6.8%) 
4.0% moving from Strata property to Single Family Home (down from 4.1%)  

* During August, there were increases in purchases by first time buyers, those moving from strata properties to single family homes and purchasers of  recreation property compared to the previous month.

Buyer Type (Family Dynamic):
25.4% Couple without Children (down from 26.7% in July) 
25.0% Two Parent Family/Children (up from 24.7%) **
20.2% Empty Nester/Retired (down from 23.0%) 
13.6% Single Female (up from 13.0%) **
13.2% Single Male (up from 9.7%) **
4.1% Single Parent with Children (up from 2.7%) **

** There were more purchases by two parent families, single females and males, and single parents during August.

Moving From: 
50.1% from Within OMREB Board Area  (down from 50.3% in July)
22.6% from Alberta (down from 22.7%) 
9.8% from Other Areas in BC  (down from 11.7%)
5.2% from Lower Mainland/Vancouver Island  (down from 7.3%)
4.9% from Saskatchewan/Manitoba (up from 3.6%) *** 
4.5% from Eastern Canada/Maritimes (up from 1.3%) ***
2.1% from Outside Canada  (down from 2.3%) 
0.7% from NWT/Yukon (same as July)

*** Compared to July, more buyers moved from Saskatchewan/Manitoba and Eastern Canada/Maritimes in August, while movement from other areas declined.

AUGUST 2014 RESULTS & HIGHLIGHTS:
• Full summary of survey results with pie charts
• This month's highlights
• Who is Buying Homes in the Okanagan-Shuswap? hand-out for Second Quarter 2014 (January through June) *
  * Quarterly from now on rather than monthly. Next summary will be released in October for 3rd quarter (January through September).

2011-2014 PIE CHARTS:  
Compiled averages for all five categories to show trends:
• 2014 pie charts for second quarter (January through June) *
• 2013 pie charts to compare - available on REALTOR Link®
• 2012 and 2011 pie charts - available on REALTOR Link®
  * Next report for release in October for 3rd quarter (January through September)

REALTOR Link® Archive:  Monthly Buyers Survey results, averages and highlights are posted and archived for easy reference and download on OMREB Statistics page on REALTOR Link®.

Kim Heizmann

Kim Heizmann

Personal Real Estate Corporation
CENTURY 21 Executives Realty Ltd.
Contact Me