The latest Association of Interior Realtors Buyer Survey Results for May 2022 are now out.

First-Time Buyers were less busy in the market last month, so this will be one to watch, as this could be an indicator that higher interest rates are beginning to affect their purchasing power.

Move-up buyers were busier, which could also be a sign that they are trying to move before rates rise further.

Interestingly, there was also a reduction in people moving from the lower Mainland, which could be due to homes taking longer to sell there now and the general 'softening' of the market there.

Couples without Children and Empty Nesters were also busier in the market.

Here are the full results.

Best describe your most recent Buyer (moving to/from property type)

First Time Buyer – 15.94% (18.24%)

Revenue Property Investor – 12.88% (13.19%)

Moving Up – 19.21% (14.95%)

Similar Property Type – 19.00% (19.78%)

Downsizing – 15.72% (17.14%)

Single-family Res to Strata – 4.80% (4.40%)

Recreational Property – 8.08% (6.59%)

Retirement Community – 1.75% (1.32%)

Strata to Single Family – 1.97% (2.86%)

Describe the Buyer (family dynamic):

Couple without children – 26.41% (21.59%)

Two Parent family / children – 26.19% (25.99%)

Empty nesters or retired – 18.40% (9.82%)

Single female – 13.85% (12.56%)

Single male – 10.61% (13.88%)

Single parent with children – 3.25% (2.20%)

Where did Buyer move from?

From within the Association area – 56.77% (54.80%)

From Lower Mainland/Island – 22.05% (25.11%)

From Alberta – 6.33% (8.52%)

From other Areas BC – 5.46% (5.46%)

From E Canada/Maritimes – 4.15% (4.37%)

From Sask./Manitoba – 3.06% (1.09%)

From outside Canada – 1.75% (0.66%)

From the NWT/Yukon – 0.44% (0.00%)

In what area was property purchased?

Kelowna/West Kelowna – 41.34% (44.08%)

Vernon/Coldstream – 12.99% (16.67%)

Central Ok (outside K/WK) – 5.63% (3.95%)

Salmon Arm – 7.14% (3.73%)

North Ok (outside V/CS) – 6.28% (6.36%)

Shuswap/Rev (outside SA) – 9.74% (6.80%)

Oliver/Osoyoos – 4.11% (3.51%)

Princeton/Keremeos – 0.43% (0.66%)

Summerland – 2.38% (1.32%)

Penticton/Naramata – 5.63% (8.77%)

Dawson Creek – 2.16% (3.29%)

Chetwynd/Tumbler Ridge – 2.16% (0.88%) 

Kind Regards

Trish Cenci