OMREB’s FEBRUARY 2014 Buyers Survey

FEBRUARY SURVEY SUMMARY

Property Type:
27.7% by First Time Buyers (up from 20.8% in January)*
27.7% of purchases were by Move-Up Buyers (up from 26.4%) *
10.9% moving from Single Family Home to Strata Unit (down from 14.4%)
6.7% buying Revenue/Investment Property (up from 6.4%)*
5.9% buying Recreation Property (down from 8.0%)
5.0% moving from Strata property to Single Family Home (down from 6.4%)
3.4% moving into Retirement Home/Seniors Community (down from 4.0%)

* During the month of February, there was an increase in purchases by Move-up and First-time buyers, and revenue property investors, while all other property types were down compared to the previous month.

Buyer Type (Family Dynamic):
31.7% Two Parent Family/Children (up from 20.7% in January)**
24.2% Couple without Children (up from 19.3%)**
17.5% Empty Nester/Retired (down from 23.7%)
14.2% Single Male (similar to January – 14.1%)
6.7% Single Female (down from 17.0%)
5.0% Single Parent with Children (down from 6.7%)

** There were more purchases by two parent families with children and couples without kids during February.

Moving From:
59.8% from Within OMREB Board Area (down from 60.3% in January)
18.0% from Alberta (up from 13.2%)***
8.2% from Other Areas in BC (down from 11.0%)
7.4% from Lower Mainland/Vancouver Island (up from 6.8%)***
4.1% from Outside Canada (up from 1.5%)***
1.6% from Eastern Canada/Maritimes (down from 2.2%)
0.8% from Saskatchewan/Manitoba (down from 4.4%)
0% from NWT/Yukon (down from 0.7%)

*** Compared to January, more buyers moved from within Alberta, the Lower Mainland/Vancouver Island, and outside Canada, while purchasers from other areas decreased in February.

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