Okanagan Buyers Survey - May 2013

Property Type:
24.5% of purchases were by Move-Up Buyers  (up from 18.6% in April)* 
17.5% by First Time Buyers  (down from 25.9%)
15.0% moving from Single Family Home to Strata Unit  (up from 10.5%)*
7.3% buying Revenue/Investment Property  (down from 11.8%)
7.3% buying Recreation Property  (down from 7.7%)
5.8% moving into Retirement Home/Seniors Community  (up from 5.5%)*
4.4% moving from Strata property to Single Family Home  (same as April – 4.5%)

* During the month of Mary, there was substantial increase in purchases by Move-up Buyers and downsizing from Single Family to Strata, while other categories saw a drop or remained the same as the previous month.

Buyer Type (Family Dynamic):
24.4% Two Parent Family/Children (similar to April – 24.8%)
24.4% Couple without Children (up from 21.7%)**
23.5% Empty Nesters/Retired (up from 22.6%)**
11.7% Single Female (up from 10.6%)**
8.9% Single Male (down from 12.8%)
1.4% Single Parent with Children (down from 5.3%)

** In May, there was an increase in purchases by Couples without Children, Empty Nesters/Retirees, and Single Females, while other categories saw decreases.

Moving From: 
55.5% from Within OMREB Board Area  (down from 56.6% in April)
21.6% from Alberta (up from 19.0%)***
7.4% from Lower Mainland/Vancouver Island  (down from 11.1% )
5.7% from Saskatchewan/Manitoba (up from 2.3%)***
4.9% from Other Areas in BC  (down from 9.3%)
2.8% from Eastern Canada/Maritimes (up from 0.4%)***
1.8% from Outside Canada  (up from 0.9%)***
0.4% from NWT/Yukon (down from 1.3%)

*** Compared to April, there was more movement from Alberta, Saskatchewan/Manitoba, Eastern Canada/Maritimes, and Outside Canada, with less migration from all other areas.

Information provided by www.omreb.com

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