Canadian Monthly Real GDP (November 2019)
Posted on Jan 31, 2020 in Economics
The Canadian economy grew by 0.1% in November, offsetting most of the decline in October. Driving the increase were the construction industry (0.5%) and utilities (2.1%) where inclement weather in central Canada drove up demand (2.1%). There were gains in 15 of 20 industries, where retail trade recouped some of the loss reported in October, led by...
BCREA 2020 First Quarter Housing Forecast Update
Posted on Jan 23, 2020 in Market Update
BC Homes Sales Carry Momentum into 2020
The British Columbia Real Estate Association (BCREA) released its 2020 First Quarter Housing Forecast Update today.
Multiple Listing Service® (MLS®) residential sales in the province are forecast to increase 10.3 per cent to 85,290 units this year, after recording 77,349 residential sales in 2019. MLS® resident...
Multiple Listing Service® (MLS®) residential sales in the province are forecast to increase 10.3 per cent to 85,290 units this year, after recording 77,349 residential sales in 2019. MLS® resident...
Bank of Canada Interest Rate Announcement
Posted on Jan 22, 2020 in Economics
The Bank of Canada held its overnight rate at 1.75 percent this morning. In the statement accompanying the decision, the Bank noted that while economic growth slowed in the fourth quarter, the global economy appears to be stabilizing and export demand and business investment should pick-up over the next year. In addition, strong population and inco...Housing Markets Flat in 2019 After Strong Second Half
Posted on Jan 13, 2020 in Market Update
The British Columbia Real Estate Association (BCREA) reports that a total of 77,331 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in 2019, a decline of 1.5 per cent from the 78,516 units sold in 2018. The annual average MLS® residential price in BC was $700,460, a decline of 1.6 per cent from $711,564 recorded the pre...Canadian Employment December 2019
Posted on Jan 10, 2020 in Economics
A good news report. Canadian employment increased by 35,200 jobs in December, partially offsetting the previous month's decline of 71,200 jobs. This brought the national unemployment rate down from 5.9% in the previous month to 5.6% in December. Regionally, the increase was led by Ontario (25,000) and Quebec (21,000). December's increase was largel...BC Housing Starts - January 2020
Posted on Jan 09, 2020 in Economics
Canadian housing starts decreased by 3.4% in December to 197,329 units at a seasonally adjusted annual rate (SAAR). The trend in national housing starts fell, averaging about 212,000 units SAAR over the past six months. In BC, housing starts fell by 10% on a monthly basis to 42,791 units SAAR, largely due to contractions in the volatile multi-unit...
