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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Active listings in the Central Okanagan are much more elevated than in neighbouring markets like the South and North Okanagan, largely a function of condos. As a result, overall supply-demand conditions in the Central Okanagan are much looser than its peers.

While resale transactions in Greater Victoria have been trending well below average this year, housing starts have moved in the opposite direction, buoyed by the record pace of new purpose-built rental construction.