JANUARY STATS RELEASE! WHERE ARE BUYERS COMING FROM AND WHAT ARE THEY BUYING???
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The results of OMREB's JANUARY 2013 Buyers Survey are posted! A total of 122 respondents participated in this survey – representing 54.5% of the 224 OMREB sales representatives who acted as Buyers Agents, and 42.8% of the 285 deals closed on behalf of Buyers in January.
JANUARY SURVEY SUMMARY
24.8% by First Time Buyers (up from 17.5% in December)*
19.8% of purchases were by Move-Up Buyers (down from 29.9%)
13.2% buying Revenue/Investment Property (up from 9.3%)*
11.6% purchasing Recreation Property (similar to December)
10.7% moving from Single Family to Strata (up from 5.2%) *
3.3% moving from Strata to Single Family (down from 4.1%)
2.5% moving into Retirement/Seniors Community (down from 3.1%)
* During the month of January, there was a substantial increase in purchases by First Time Buyers, and Single Family Homeowners moving to Strata Unit, and in the sales of Revenue/Investment Properties compared to December, while sales in other categories declined.
Buyer Type (Family Dynamic):
32.2% Two Parent Family/Children (up from 29% in December) **
25.6% Couple without Children (up from 20%) **
19.8% Empty Nesters/Retired (down from 21%)
10.7% Single Female (down from 15%)
9.9% Single Male (down from 13%)
2.5% Single Parent with Children (down from 4%)
** In January, there was an increase in purchases by Two Parent Families with Children, and Couples without Children compared to December, while other categories saw decreases.
61.5% from Within OMREB Board Area (down from 68.7% in December)
14.8% from Lower Mainland/Vancouver Island (up from 7.1%) ***
11.5% from Alberta (up from 9%) ***
4.1% from Other Areas in BC (same as December)
4.1% from Eastern Canada/Maritimes (same as December)
2.5% from Saskatchewan/Manitoba (up from 2%) ***
1.6% from Outside Canada (down from 3%)
0% from NWT/Yukon (down from 2% -- 16th month reported)
*** Compared to December, there was more migration from the Lower Mainland/Vancouver Island, Alberta and Saskatchewan/Manitoba in January, but less movement from within the Board area, from NWT/Yukon, and from overseas.