The results of OMREB's AUGUST 2013 Buyers Survey are now in and posted! A total of 270 respondents participated in this survey – representing 67% of the 405 OMREB sales representatives who acted as Buyers Agents, and 39% of the 692 deals closed on behalf of Buyers in August.
AUGUST SURVEY SUMMARY
25.4% of purchases were by Move-Up Buyers (up from 22.8% in July)*
17.3% by First Time Buyers (down from 17.9%)
13.5% moving from Single Family Home to Strata Unit (up from 9.8%)*
11.2% buying Recreation Property (up from 10.8%)*
8.5% buying Revenue/Investment Property (down from 11.0%)
6.5% moving into Retirement Home/Seniors Community (up from 4.5%)*
3.5% moving from Strata property to Single Family Home (down from 5.7%)
* During the month of August, there was a significant increase in purchases by move-up buyers, home owners downsizing to strata units and retirement communities, as well as recreation property buyers, while other categories saw a drop from the previous month.
Buyer Type (Family Dynamic):
25.3% Two Parent Family/Children (up from 24.0% in July)**
23.4% Couple without Children (up from 23.2%)**
20.1% Empty Nester/Retired (down from 23.2%)
13.8% Single Female (up from 12.2%)**
11.2% Single Male (down from 14.2%)
4.5% Single Parent with Children (up from 2.0%)**
** In August, there were more purchases by two parent families and couples without children, and by single females and single parent families, while all other categories saw decreases.
50.7% from Within OMREB Board Area (down from 54.7% in July)
21.6% from Alberta (up from 14.8%)***
10.8% from Other Areas in BC (up from 10.5%)***
9.0% from Lower Mainland/Vancouver Island (down from 12.1%)
3.4% from Saskatchewan/Manitoba (up from 2.0%)***
1.9% from NWT/Yukon (up from 0.8%)***
1.5% from Eastern Canada/Maritimes (down from 3.5%)
1.1% from Outside Canada (down from 1.6%)
*** Compared to July, there were more buyers moving from Alberta, other areas of BC, Saskatchewan and Manitoba, and the Northwest Territories and Yukon, but less movement from within the Board area and fewer purchasers from the Lower Mainland and Vancouver Island, Eastern Canada and the Maritimes, and from outside Canada during August.
AUGUST 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 36 months (since September 2010) to show trends.
* 2013 pie charts for first 6 months (January through July) - showing averages compiled for all five Survey categories
* 2012 and 2011 pie charts to compare.