Who's Buying Vancouver Real Estate in 2013?

Vancouver's real estate market is always changing. Currently the buyers are returning to the market, which is busier than it was a year ago. So let's take a look at who the buyers are.

According to REBGV, the stats for the first five months of 2013 show 20% of buyers are purchasing properties with cash. 56.4% are buying with 25% or more downpayment (conventional mortgage) and 23.6% are buying with less than 25% down (high ratio mortgage).

The largest group of buyers are families with children, which account for 34.7%. Followed by young couples with no children at 20.6%, single females at 15.6%, single men at 10.1%, empty nesters at 6%, retirees at 6.5% and other at 6.5%.

59.7% of the buyers already lived in the same community in which they purchased another Vancouver home. 34.2% moved within Greater Vancouver area. 4% moved from Fraser Valley, 5.5% moved from outside BC and 5% moved from outside of Canada.

First time buyers made up 40.7% of home purchases for the first five months of 2013. Followed by 23.6% of buyers who moved from one property to a similar property. 9% moved from a condo or townhome or house to a house.. 4% moved from a condo to a townhome. 3.5% moved from a townhouse or house to a condo and 3.5% moved from a house to a condo. 1% moved to a retirement home. 

10% of the buyers wer local investors and 2.5% were foreign investors.

Buying or Selling Vancouver real estate? Put my hyper-local experience to work for you today!


Comments:
No comments

Post Your Comment:

* indicates required fields.
Your Name: *
Please note, your email will not be shown publicly
Your Email (will not be published): *
Comment: *
Please type the text as it appears above:
Blogs
Posts By Date
Categories
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.