What You Need To Know About First-Time Home Buyers In Metro Vancouver

Feb 04, 2022

Written by

Ryan Berlin

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The proportion of completed-home purchases in Metro Vancouver attributed to first-time home buyers (FTHBs) dipped in 2021 vs the prior 3 years.
In spite of a recently lower share, the absolute number of first-time home buyers increased each year between 2018-2021.
Activity in the pre-sale market more or less mimicked this pattern, with the number of FTHB pre-sale purchases rising annually between 2019-2021.

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Written by

Ryan Berlin

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What You Need To Know About First-Time Home Buyers In Metro Vancouver

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Sales in the Central Okanagan reached their highest level in 23 months in May, though activity remained well below typical seasonal levels. A new GST rebate, signs of improving consumer confidence, and more interest rate cuts could support higher activity later this year.

Greater Victoria registered its fewest sales in May in over a decade, and inventory surpassed 3,000 homes for the first time since 2015. A new GST rebate, signs of improving consumer confidence, and more interest rate cuts could support higher activity later this year.