Each month the Greater Vancouver Real Estate Board asks Vancouver Realtors® to respond to a survey. The survey is restricted to members who have made at least one sale in the preceding 30-day period.Check out Larry's blog for the data. We should remember that this is a survey so is prone to the usual survey errors, along with potential for uneven distribution of respondents to the actual buyer distribution -- think the 80-20 rule, where 80% of transactions are done by 20% of the members. Nonetheless the data provide invaluable insight into who the buyers really are and I'll let the numbers speak for themselves.Questions asked:How would you best describe your most recent buyer(s)?
- First Time Buyers
- Moving from one property to a similar property
- Moving from a condo to a townhouse
- Moving from a condo OR townhouse to a detached
- Moving from a townhouse OR detached to a condo
- Moving from a detached house to a townhouse
- Moving from a detached house to a condo
- Moving into a retirement home
- Local/Domestic investor
- Foreign InvestorHow did the buyer(s) finance their purchase?
- All cash
- Conventional mortgage (25% or more downpayment)
- High ratio mortgage (less than 25% downpayment)Describe the buyer(s)
- Single male
- Single female
- Young couple with no children
- Family with children
- Empty nesters
- OtherWhere did the buyer(s) move from?
In your market area, are you seeing:
- Already lived in the same community
- Moved within the REBGV area
- Moved from the Fraser Valley Board area
- Moved from an area of BC outside the Lower Mainland
- Moved from outside BC, but still within Canada
- Moved from outside Canada
- More traffic at open houses?
- Deals collapsing due to financing?
- More multiple offers?
Thursday, June 16, 2011
Who is buying homes in Vancouver