Buying and Selling When asked if it would be a favourable or unfavourable time to buy in their community, 67% thought it was favourable. This represented a positive upward trend since 2016 (43%) and 2018 (57%). In 2020, 20% thought that it was an unfavorable time to buy and 13% were unsure. Prospective home buyers who identified as Indigenous (72%), buyers with annual household incomes of $100,000 or more (71%), those who plan to buy a single detached home (70%) and repeat buyers (70%) were more likely to consider it to be a favourable time to buy a home. Across all the regions, at least one-half or more of prospective new home buyers considered it to be a favorable time to buy (69% in Metro Vancouver, 53% in the Capital Regional District, and 65% across the rest of B.C.).
Figure 53: Favourable Time to Sell , 2016-2020
Figure 52: Favourable Time to Buy , 2016-2020
43%
52%
54%
57%
58%
67%
39%
28%
34%
26%
29%
20%
18%
18%
17%
14%
13%
13%
2016 (n=500)
2018 (n=502)
2020 (n=500)
2016 (n=500)
2018 (n=502)
2020 (n=500)
Favourable Unfavourable Not sure
Favourable Unfavourable Not sure
When asked if it would be a favourable or unfavourable time to sell in their community, the proportion reporting that it would be a favorable time to sell increased to 58% in 2020, after remaining relatively consistent between 2016 (54%) and 2018 (52%). In 2020, the proportion who indicated it was an unfavorable time to sell decreased from 34% in 2018 to 29% in 2020, while the proportion who were unsure remained stable at 13%. In Metro Vancouver, the proportion of prospective home buyers who thought it was a favorable time to sell has slowly increased over the past four years, from 51% in 2016 to 55% in 2020. In the Capital Regional District, prospective new home buyers have shifted over the past four years. In 2020 74% thought it was a favorable time to sell compared to 48% in 2018 and 74% in 2016. In other areas of B.C., 62% of prospective new home buyers predicted it would be a favourable time to sell in 2020, up from 52% in 2018 and 56% in 2016.
46 | P a g e
Made with FlippingBook - Share PDF online