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Homebuying Trends of 2013

So what will be the trend of 2013?  The fashion experts are betting on black & white being the new look. The travel professionals are saying that cruises are the pick of 2013. The automobile industry is noting to watch for the new diesel automobiles that are cleaner than any vehicle on the market.

But what are the real estate professionals saying will be the trend for homebuying? Check out the RE/MAX Canadian Homebuying Trends report to see the full details of what is expected for 2013.  

A national survey was taken and some of the key findings were:

  • Almost one in five purchasers is single
  • More than two-thirds are second or multi-time purchasers
  • Four out of 10 purchasers between the ages of 18 to 34 have a downpayment of 20% or more
  • Just over 80% of buyers believe housing values in their area will rise or remain the same

Second-time and multi-time buyers represent 70% of those serious about making a move leaving first-time buyers role in the market at 30%. 

From those spenders,the ratio indicates:

38% of purchasers indicated they would spend under $250,000 on their home

42%  would spend between $250,000 and $500,000

10%  would spend between $500,000 and $1 million

1%  intended to spend over $1 million

The singles were most cautious with 47% of purchasers intending to spend under $250,000. 

As for confidence in the market,

48% surveyed believed housing values in their area would rise in the next 12 months

35% believed housing values would remain the same

10% believed housing values would decline. 

Of those purchasing in the next 24 months in BC:

18%  are single

43% are couples

31% are  families

Almost half of single purchasers (45 per cent) are female.

Who's buying in BC?

55 plus:  20%

35 - 54:  41%

18 - 34:  39%

And of course, what is the main focus on every reality real estate show on TV? Location, location, location! And here's where people are going in BC:

39% going suburban

29% going urban

15% going rural

and 17% are not sure where they are going. 

So there is a little spotlight into the future. Some of your may fall into those categories or some of you might fall into the unknown category and are still trying to figure out your future. Either way, if you'd like me to play a role in your future endeavours, do not hesitate to give me a call and I would be happy to help you fit into the trends of 2013. 

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