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Posted June 14th, 2012 in Real Estate | 
We see the numbers but the numbers don’t have faces. Do you ever wonder who is buying those Vancouver homes?
Each month the Real Estate Board of Greater Vancouver sends out a buyer demographic survey to members who have made at least one sale in the preceding 30-day period.
Here are the results:
Courtesy REBGV reprinted with permission
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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.
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15% pay all cash????
I’m in the wrong biz.
I need to start a grow op.
hey you sold that duplex, congrats!
Can you please e-mail me the selling price of #201 2255 West 5th ave if it’s not too much of a hassle for you?
wish they just had these stats available on the mls site
@eastvan
that part of the report could be a bit misleading. In actuality any sale is an all cash sale to the Seller. That a buyer is taking out a mortgage still means the seller gets paid in cash.
Were someone to turn up with a suitcase of cash to buy a home first I wouldn’t do business with them and second, you can bet that FINTRAC wants to know about it.
@vangrl
yup sellers are happy.
thanks for the fuzzies
Very interesting data. It’s not easy to find these types of statistics anywhere.
Just out of curiosity what is the difference/correlation between Foreign investors and buyers that moved from outside of Canada.
It feels like there should be another option in the “Where did buyers move from?” that says the buyers didn’t in fact move as they are foreign investors.
@jason
it is hard to make perfect surveys.
“difference”:
Presumption is that foreign investors may have bought but chose not to reside here. the latter is self explanatory.
Why not include “Where did buyers come from?”
Good question.
If I have my math right, then that means that 37 out of 1124 survey participants this year (i.e., 3.3%) are foreign investors. Wow…I’ll bet 99% of people in Vancouver would bet this would be a much bigger number…
Is this data available for further back than January? It’d be interesting to see how answers have changed over, say, the last 10 years.
Hi Larry,
Very interesting stats; thanks so much for sharing! Congrats on selling the duplex.
Larry,
Thanks for posting this,
I think it dropped off the board when your server had problems. ? or would have caused a lot more interest.
This is fascinating and as previous poster mentioned not what most armchair experts would have thought
The fact that ‘most’ buyers are (i) Vancouver families, (ii) buying with at least 25% down makes me believe that while I am sure (and hope) a reasonable correction is coming we are not heading for a US style end of the world situation.
[...] Source: Real Estate Board of Greater Vancouver [...]