JULY SURVEY SUMMARY
22.8% of purchases were by Move-Up Buyers (down from 23.7% in June)
17.9% by First Time Buyers (up from 17.5%)*
11.0% buying Revenue/Investment Property (up from 8.6%)*
10.8% buying Recreation Property (up from 5.1%)*
9.8% moving from Single Family Home to Strata Unit (down from 17.1%)
5.7% moving from Strata property to Single Family Home (up from 4.3%)*
4.5% moving into Retirement Home/Seniors Community (down from 4.7%)
* During the month of July, there was a significant increase in purchases by revenue/investment and recreation property buyers, and by home owners downsizing to strata units, while other categories saw a drop or remained the same as the previous month.
Buyer Type (Family Dynamic):
24.0% Two Parent Family/Children (up from 20.3%)**
23.2% Empty Nester/Retired (down from 28.6% in June)
23.2% Couple without Children (down from 27.8%)
14.2% Single Male (up from 6.8%)**
12.2% Single Female (up from 11.3%)**
2.0% Single Parent with Children (down from 2.3%)
** In July, there were more purchases by two parent families with children, and by singles (males in particular), while all other categories saw decreases.
54.7% from Within OMREB Board Area (down from 58.8% in June)
14.8 % from Alberta (down from 18.8%)
12.1% from Lower Mainland/Vancouver Island (up from 7.5%)***
10.5% from Other Areas in BC (up from 8.3%)***
3.5% from Eastern Canada/Maritimes (up from 0.8%)***
2.0% from Saskatchewan/Manitoba (down from 3.4%)
1.6% from Outside Canada (up from 1.1%)***
0.8% from NWT/Yukon (up from 0.4%)
*** Compared to June, there were more buyers moving from other areas of BC and the Lower Mainland/Vancouver Island, as well as more migration from Eastern Canada and Maritime provinces, but less movement from within the Board area and fewer purchasers from Alberta, Saskatchewan and Manitoba during July.
Information provided by www.omreb.com
Contact the Dion-Ivans Real Estate Group if you have any questions.