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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For 40 consecutive months active listings in the Central Okanagan had been higher on a year-over-year basis. In February, that changed. Subdued new listings activity and a prolonged sales recovery could keep inventory below last year’s levels.

King County’s housing market saw increasing sales in February, beyond typical seasonality. Going forward, oil price shocks from the war in Iran present new inflation risks, which could prevent mortgage rates from falling any further.