January 2013 Buyers Survey Results

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
Property Type:

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.

Moving From:

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.

JANUARY 2013 RESULTS & HIGHLIGHTS: Click here for full summary of survey results with pie charts, and here for highlights for this month, and here for the “Who is Buying Homes in the Okanagan-Shuswap?” hand-out for February 2012.

2011 & 2012 PIE CHARTS – Plus 2010-2013 Averages: Click here for 2012 pie charts showing averages compiled for all five Survey categories, and here for 2011 to compare. Click here to view averages compiled for the two main categories - Buyer Type and Where From - during the past 29 months (since September 2010) to show trends.

Monthly Buyers Survey Archive – REALTORLink Stats Page: Buyers Survey results, averages and highlights are posted and archived for easy reference on OMREB's Statistics page on REALTORLink.

Wyona Hansen

Wyona Hansen

REALTORĀ®
CENTURY 21 Executives Realty Ltd.
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