May 2020

Canadian Real GDP Q1 2020

Posted on May 29, 2020 in Economics

GDP vs Long Run TrendThe Canadian economy contracted 8.2 per cent at a quarterly annualized rate in the first quarter, including a 7.2 per cent decline in March following the paralysis of economic activity brought on by the COVID-19 pandemic. Household spending fell 2.3 per cent, the steepest drop ever recorded, while exports were down 3 per cent and government spendin...

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Canadian Inflation (April 2020)

Posted on May 21, 2020 in Economics

Canadian Inflation Rates - April 2020Canadian inflation, as measured by the Consumer Price Index (CPI) fell by 0.2 per cent in April year-over-year, down from a 0.9 per cent gain in the previous month. This was the first year-over-year decline in the CPI since September 2009. Energy prices were the main drag on inflation due to the drop in global demand, excluding this category, natio...

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Housing Market Slows, but Resilient in Response to Pandemic

Posted on May 13, 2020 in Market Update

MLS Home Sales - Covid 19The British Columbia Real Estate Association (BCREA) reports that a total of 3,284 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in April 2020, a decline of 50.8 per cent from April 2019. The average MLS® residential price in BC was $737,834, a 7.8 per cent increase from $684,430 recorded the previous year. Total sale...

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Canadian Employment (April 2020)

Posted on May 08, 2020 in Economics

BC Employment Numbers - April 2020Canadian employment fell further in April by 2 million jobs (-11%, m/m), bringing cumulative losses to 3 million since February. The unemployment rate rose by 5.3 percentage points from 7.8% to 13%, as the impact from the closure of non-essential businesses and travel restrictions were not fully reflected in last month's job report. The last recess...

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Vancouver Real Estate Statistics - April 2020

Posted on May 04, 2020 in Mortgage News

April 2020 - Vancouver Real Estate StatisticsHome sales and listings down amid COVID-19, new tools and practices emerge to help buyers and sellers adapt

While Metro Vancouver home sale and listing activity remains limited by the COVID-19 situation, REALTORS® across the region are fast adopting new tools and practices to help advise and serve their clients in a responsible way.

The Real Estate...

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