Wonder where the Buyers for Okanagan Shuswap real estate have been moving from and where they are moving to? Here is a look at the trends over the last 3 years. Have a look at where buyers are coming from, family dynamic, type of real estate purchased and financing methods used to purchase MLS® homes sold in the Okanagan Shuswap region of BC, Canada.

1. FACT SHEET: January 2014
Who is Buying Homes in the Okanagan-Shuswap?
Kelowna, BC – Ever wonder where home buyers come from? Since September 2010, the Okanagan
Mainline Real Estate Board (OMREB) has been collecting information from our members with regards
to where our buyers are coming from – both geographically and demographically. The purpose of
collecting this data is to add another element to our market knowledge and a better understanding of
current trends. The longer record, the more insight the Board will have.
Results of OMREB’s new Board-wide monthly Buyers Survey indicate that serious buyers are taking
advantage of the current market and leveraging their positive purchasing power while it lasts. Buyer
profiles gathered through each monthly survey include property type, family dynamic, financing, and
areas moving from and to.
2013: During 2013, Move-up Buyers have accounted for 23% of the purchasers while First-Time
Buyers comprised 19%. Home Buyers have been coming from:
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Within the OMREB Board area (57.7%) Down from 2012
Alberta (16.9%) Up from 2012
Lower Mainland/Vancouver Island (9.3%) Down from 2012
Other areas of BC (7.7%) Down from 2012
Saskatchewan/Manitoba (3.4%) Up from 2012
Eastern Canada/Maritimes (2.5%)
Outside Canada (2.0%) Up from 2012
North West Territories/Yukon* (0.4%) Down from 2012
2012: During 2012, Move-up Buyers have accounted for 26% of the purchasers while First-Time
Buyers comprised 20%. Home Buyers were coming from:
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•
•
•
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Within the OMREB Board area (58.9%)
Alberta (15.5%)
Lower Mainland/Vancouver Island (10.3%)
Other areas of BC (8.0%)
Eastern Canada/Maritimes (2.5%)
Saskatchewan/Manitoba (2.3 %)
Outside Canada (1.8%)
North West Territories/Yukon* (0.6%)
Percentage of First Time Buyers
Continues to decline year after
Year by 1% per year.
2011: During 2011, Move-Up Buyers have accounted for 24% of the purchasers while First-Time
Buyers comprised 21%. Home Buyers came from:
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•
•
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Within the OMREB Board area (56.5%)
Alberta (14.9%)
Lower Mainland/Vancouver Island (11.1%)
Other areas of BC (8.3%)
Saskatchewan/Manitoba (3.1%)
Eastern Canada/Maritimes (3.1%)
Outside Canada (2.4%)
Northwest Territories/Yukon* (0%)

2. Who is Buying Homes in the Okanagan-Shuswap? (DECEMBER 2013 Fact Sheet) – PAGE 2
40-MONTH AVERAGE - September 2010 through December 2013: Since the Survey was launched in
2010, on average Move-up Buyers have accounted for 24% of the purchasers while First-Time Buyers
comprised 22%. Home Buyers have been coming from:
•
•
•
•
•
•
•
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Within the OMREB Board area (57.7%)
Alberta (15.2%)
Lower Mainland/Vancouver Island (11.3%)
Other areas of BC (7.8%)
Saskatchewan/Manitoba (3.0%)
Eastern Canada/Maritimes (2.7%)
Outside Canada (2.0%)
North West Territories/Yukon* (0.4%)
*First month reported = Sept 2011 (0.5%)
Real estate markets can be driven by local demand, demand stemming from outside the region or
province, by international sources, or by a combination of all three. Knowing how many homes are
sold and at what price is an important part of the picture. However, understanding who your buyers
are and where they come from can reveal not only market dynamics but also identify which factors
actually drive local demand. For example, a change in entry level buyer activity can have a ripple
effect throughout the entire market as many move-up buyers rely on first-time buyers to purchase
their existing homes. First‐time buyers are a driving factor and they stimulate the chain of ownership.
Low interest rates and attractive pricing alone don’t necessarily mean increased sales activity. Many
additional factors affect consumer confidence, including local employment opportunities and the
overall economic environment. Real estate markets can also react differently depending on the
influence of various buyer segments.
Housing markets in Vancouver, for example, have been bolstered by off-shore buyers while the
Alberta market is closely linked to natural resource prices and their job market. Since a sizable
proportion of local sales come from buyers that originate outside our region, with about 40% being
non-local, we need to keep an eye on Alberta and the Lower Mainland. Our monthly Buyers Survey
helps to do just that.
So if you were curious as to what is moving our local real estate market, this is a bit of insight.
OMREB is comprised of 1,0018 member REALTORS® and 92 real estate offices in BC’s Southern
Interior, and the Board area covers the Central Okanagan, North Okanagan and Shuswap – from
Peachland to Revelstoke.
For more information:
JAN BAUMAN
OMREB Communications
(250) 491‐4560, Ext 224
jbauman@omreb.com

3. Where Buyers Were From – 2013
NWT/Yukon
0.4%
East/Maritimes
Outside
Sask./Manitoba
Canada
2.0%
3.4% 2.5%
B.C.
7.7%
L. Mainland/Vancouver Is.
9.3%
Alberta
17.0%
Board Area
57.7%

4. Where Buyers Were From – 2012
NWT/Yukon
0.6%
Outside
Canada
2.3% 2.5%
1.8%
East/Maritimes
Sask./Manitoba
B.C.
8%
L. Mainland/Vancouver Is.
10.3%
Board Area
59%
Alberta
15.5%

5. Where Buyers Were From ‐ 2011
Where Buyers Were From
NWT/Yukon
0.1%
East/Maritimes
Sask./Manitoba
Overseas
3%
3%
2.5%
B.C.
8%
L. Mainland/Vancouver Is.
11%
Alberta
15%
Board Area
57%

6. Buyer-Property Types – 2013
Recreation
Property
Strata to
Single Family
To Retirement
Community
4.6%
9.2%
5.3%
First-Time Buyer
19.4%
Revenue Investor
9.4%
Single Family to Strata
12.2%
Move-Up Buyer
23.1%

7. Buyer‐Property Types – 2012
Recreation
Property
Strata to
Single Family
To Retirement
Community
4%
8.8%
4.2%
First‐Time Buyer
20%
Revenue Investor
10.5%
Single Family to Strata
11%
Move‐Up Buyer
26%

8. Buyer‐Property Types ‐ 2011
Buyer Property Types
Strata to
Single Family
5%
Recreation Property
6%
To Retirement
Community
4.5%
Move‐Up Buyer
24%
Revenue Investor
10%
Single Family to Strata
11%
First‐Time Buyer
21%
“Other” = 29.5%

9. Family Dynamic – 2013
Single Parent
With Children
Single Male
10.9%
2.9%
Two Parents/Children
25.4%
Single Female
11.6%
Empty Nesters/
Retired
23.2%
Couple without Children
24.9%

10. Family Dynamic – 2012
Single Parent
With Children
Single Male
12.3%
4%
Two Parents/Children
28%
Single Female
12.6%
Empty Nesters/
Retired
20%
Couple without Children
23%

11. Family Dynamic ‐ 2011
Family Dynamic
Single Parent/Children
Single Male
12%
Single Female
13%
Empty Nesters/Retired
21%
4%
Two Parents/Children
27%
Couple without
Children
23%

12. Where Buyers Purchased – 2013
Central Okanagan
(outside Kelowna/West Kelowna)
8.3%
Salmon Arm
6.4%
Shuswap/Revelstoke 8.7%
(outside Salmon Arm)
North Okanagan 6.9%
(outside Vernon/Coldstream)
Vernon/
Coldstream
14.4%
Kelowna/West Kelowna
55.3%

13. Where Buyers Purchased – 2012
Central Okanagan
(outside Kelowna/West Kelowna)
Salmon Arm
5%
8%
Shuswap/Revelstoke 9.2%
(outside Salmon Arm)
North Okanagan 6.5%
(outside Vernon/Coldstream)
Vernon/
Coldstream
19.5%
Kelowna/
West Kelowna
51%

14. Where Buyers Purchased ‐ 2011
Where Buyers Purchased
Central Okanagan
(outside Kelowna/
West Kelowna)
West Kelowna)
Salmon Arm
9%
6.5%
Shuswap/Revelstoke
p/
(outside Salmon Arm)
8%
North Okanagan
(outside Vernon/Coldstream)
7.5%
7 5%
Vernon/Coldstream
16%
Kelowna/
West Kelowna
53%

15. How Financed Purchase –2013
Rental Income
to Qualify
High Ratio
0.9%
(<20% down)
19.0%
Conventional
Mortgage
All Cash
31.8%
(>20% down)
48.3%

16. How Financed Purchase ‐ 2012
Rental Income
to Qualify
1.5%
High Ratio
(<20% down)
18.5%
Conventional
Mortgage
(>20% down)
All Cash
29%
51%

17. How Financed Purchase ‐ 2011
How Financed Purchase
Rental Income to Qualify
2%
High Ratio
(<20% down)
19%
Conventional Mortgage
(>20% down)
All Cash
All Cash
28%
51%