First-time Buyers, Revenue Investors and Move-Up Buyers were all busier this month. It will be interesting to see if that is an indicator that the effects of the Mortgage Stress Test are now easing.
Fewer local people bought last month - probably enjoying the summer holidays, whereas there were move Buyers from the Lower Mainland.
As far as areas go, Kelowna was a little busier, whereas fewer Buyers bought in the Vernon and Coldstream area.
Please find the full summary below.
Best describe your most recent Buyer (moving to/from property type)
First Time Buyer – 21.60% (18.29%)
Revenue Property Investor – 11.24% (13.27%)
Moving Up – 13.61% ( 16.81%)
Similar Property Type – 20.41% (16.81%)
Downsizing – 14.50% (15.04%)
Single family Res to Strata – 3.25% (5.01%)
Recreational Property – 7.69% (7.67%)
Retirement Community – 1.48% (0.59%)
Strata to Single Family – 3.25% ( 2.65%)
Describe the Buyer (family dynamic):
Couple without children ...