The latest Association of Interior Realtors Buyer Survey Results for June 2022 are now out.
Move-up Buyers were well down last month, which may be the first signs of the Mortgage interest rate rises having an effect on the Real Estate Market.
They were slightly fewer buyers from my local area and also if you are from the Lower Mainland, who had previously been Buying in bigger numbers in our Market.
The North Okanagan / Vernon area took a bigger percentage of Buyers last month.
Here are the full results.
Best describe your most recent Buyer (moving to/from property type)
First Time Buyer – 16.85% (15.94%)
Revenue Property Investor – 11.80% (12.88%)
Moving Up – 10.67% (19.21% )
Similar Property Type – 22.75% (19.00%)
Downsizing – 16.01% (15.72%)
Single-family Res to Strata – 5.62% (4.80%)
Recreational Property – 8.43% (8.08%)
Retirement Community – 2.25% (1.75%)
Strata to Single Family – 2.53% (1.97%)
Describe the Buyer (family dynamic):...