Last months Buyers Survey Report is now out, provided by the Okanagan Mainline Real Estate Board (OMREB).
Less activity by First Time Buyers, but more people Downsizing and Investing.
Families were busier Buying, but there were less out of area buyers. I suspect this is due to many have greater difficulty Selling their own homes, as many areas are struggling with sales at the moment.
19.89% First Time Purchase (down from 23.48% in April)
17.74% Move Up Purchase (down from 19.61%)
19.62% Relocating to Similar Property Type (up from 16.85%)
11.02% Revenue/Investment (up from 8.29%)
19.09% Downsizing (up from 15.75%)
7.53% Moving from Single-family Home to Strata Unit (up from 5.52%)
2.96% Moving from Strata Property to Single Family Home (up from 2.76%)
3.76% Recreational Property (down from 5.25%)
1.34% Retirement Home/Seniors Community (down from 2.49%)
Buyer Type (Family Dynamic):
27.03% Two Parent family/children (up from 22.47% in April)
24.86% Couple without children (down...