August 2020

Canadian Real GDP Q2 - 2020

Posted on Aug 28, 2020 in Economics

GDP in Canada July 2020The Canadian economy contracted by 11.5 per cent from the first to the second quarter, or 38.9 per cent on a quarterly annualized basis, the steepest quarterly decline on record going back to 1961. Consumer spending fell 13.1 per cent as the start of the COVID-19 pandemic caused record job losses and prompted stores to close. Business investment wa...

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UPDATE: COVID-19 Reopening Dashboard

Posted on Aug 26, 2020 in Economics

BC Covid 19 Real Estate Vancouver DashboardThe BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the BC economy as the province gradually reopens. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province's subsequent state of emergency.

To monitor the province's...

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BCREA: Surprisingly Strong Recovery to Propel Housing Market in 2021

Posted on Aug 25, 2020 in Market Update

BCREA 2020 Third Quarter Housing Forecast Update

The British Columbia Real Estate Association (BCREA) released its 2020 Third Quarter Housing Forecast Update today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to rise 6.5 per cent to 82,380 units this year, after recording 77,351 residential sales in 2019. MLS® resi...

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Canadian Retail Sales (June 2020)

Posted on Aug 21, 2020 in Economics

Canadian Retail Sales - June 2020Another good news report. Retail sales were up for a second consecutive month in June by 24% on a seasonally-adjusted basis, this follows a 21% rise in May. Sales were up in all subsectors, with growth primarily led by motor vehicle and parts dealers, as well as clothing. Retail sales in June were 1.3% higher than pre-pandemic levels in February. T...

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Tom Ferry Coaching - Advice For Vancouver Real Estate Agents

Posted on Aug 20, 2020 in Also in the news

Tom Ferry advice for Vancouver RealtorsI read a great post today by one of the masters of real estate coaching - Tom Ferry, and many of the thoughts resonated with me. 

They are also applicable for everyone, whether you're in any sort of sales business. Even if you're not a Vancouver Realtor® or even involved in sales, some of these will apply to you.

Let me know which is your favorite by...

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Canadian Inflation (July 2020)

Posted on Aug 19, 2020 in Economics

Change in CPI - July 2020Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 0.1% in July year-over-year, down from a 0.7% rise in the previous month. Excluding gasoline, the CPI rose by 0.7%. Inflation grew at a slower pace than in June due to a broad-based slowdown in price growth. Prices rose in five of eight components year-over-year, while prices...

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