May Buyers Survey Results

The results of OMREB's MAY 2014 Buyers Survey are now in and posted!  A total of 302 respondents participated in this survey – representing 60.5% of the 499 OMREB sales representatives who acted as Buyers Agents, and 33.3% of the 908 deals closed on behalf of Buyers in May (record sales numbers – the highest since September 2010).

Property Type:
28.6% of purchases were by Move-Up Buyers (same as April) 
18.5% by First Time Buyers  (down from 21.1%)
15.2% moving from Single Family Home to Strata Unit  (up from 10.6%) *
6.4% buying Recreation Property  (down from 9.9%)
7.4% buying Revenue/Investment Property  (down from 9.6%) 
5.1% moving from Strata property to Single Family Home (up from 3.6%) *
4.4% moving into Retirement Home/Seniors Community  (down from 6.3%) 

* During the month of May, there was an increase in purchases by those moving single family homes to strata properties, and from stratas to single family homes compared to the previous month.

Buyer Type (Family Dynamic):
24.5% Couple without Children (up from 24.0% in April) **
21.9% Two Parent Family/Children (down from 27.8%)
21.95% Empty Nester/Retired (up from 19.2%) **
17.9% Single Female (up from 11.4%) **
10.6% Single Male (down from 12.0%) 
3.6% Single Parent with Children (same as April)

** There were more purchases by couples without children, empty nesters/retirees, and single females during May than in April.

Moving From: 
57.7% from Within OMREB Board Area  (up from 51.1% in April) *** 
16.3% from Alberta (down from 20.2%)
9.7% from Lower Mainland/Vancouver Island  (same as April)
7.3% from Other Areas in BC  (down from 10.1%)
4.3% from Saskatchewan/Manitoba (down from 4.1%) 
3.7% from Eastern Canada/Maritimes (up from 3.1%) ***
1.0% from Outside Canada  (down from 1.6%)
0% from NWT/Yukon (same as April)

*** Compared to April, more buyers moved from within the Board area, and Eastern Canada/Maritimes in May.  Movement from other areas stayed the same or declined.

• Full summary of survey results with pie charts
• This month's highlights
• Who is Buying Homes in the Okanagan-Shuswap? hand-out for June

2011-2014 PIE CHARTS:  
Compiled averages for all five categories to show trends:
• 2014 pie charts for first quarter (January through March)*
• 2013 pie charts to compare - available on REALTOR Link
• 2012 and 2011 pie charts - available on REALTOR Link
* 2nd Q charts will be available in July

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