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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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.

The Vancouver Region is headed toward its fewest annual home sales in at least two decades. Two factors that have weighed on the market this year—a weak economy and labour market—have seen some improvement in recent months.