November 2020

Canadian Retail Sales (September 2020)

Posted on Nov 22, 2020 in Economics

BC Retail Sales - September 2020Retail sales rose for the fifth consecutive month in September by 1.1% on a seasonally-adjusted basis, which is higher than Statistic Canada's preliminary estimate of no change. Sales were up in 9 of 11 subsectors, representing 93.2% of retail sales. The increase was led by higher sales at auto dealers. General merchandise stores increased for the...

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Canadian Inflation (October 2020)

Posted on Nov 18, 2020 in Economics

Change in CPI & Inflation - Vancouver Real EstateCanadian inflation, as measured by the Consumer Price Index (CPI) rose by 0.7% in October year-over-year, up from the previous month's increase of 0.5%. Excluding gasoline, the CPI rose by 1.1%. Prices rose in five of eight components year-over-year in October, with food contributing the most to the increase due to rising prices for lettuce as a re...

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Canadian Housing Starts (October 2020)

Posted on Nov 17, 2020 in Economics

BC Housing Starts - Vancouver Real EstateCanadian housing starts increased by 3% m/m to 214,875 units in October at a seasonally adjusted annual rate (SAAR), following a decline in September. Housing starts increased in 6 of 10 provinces with strong gains in Manitoba and Alberta. Building activity gained momentum in the single-detached segment, while multi-unit starts declined slightly. O...

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BC Housing Market Continues Record Pace in October

Posted on Nov 12, 2020 in Market Update

BC MLS Sales DataThe British Columbia Real Estate Association (BCREA) reports that a total of 11,051 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October 2020, an increase of 43.8 per cent from October 2019. The average MLS® residential price in BC set a record of $812,960, a 12.5 per cent increase from $722,333 recorded the previ...

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Canadian Employment (October 2020)

Posted on Nov 08, 2020 in Economics

Canadian Job Numbers October 2020Canadian employment gained 84k jobs in October (0.5%, m/m), following a gain of 378k in September. This is the sixth consecutive month of increases, putting national employment within 636k of its pre-COVID February level. The national unemployment rate was little changed at 8.9%, as some provinces reinstated containment measures targeted at restaur...

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Canada's Jobs Recovery Slowed in October With New Pandemic Restrictions

Posted on Nov 07, 2020 in Economics

Canadian Job Numbers

The October Labour Force Survey, released this morning by Stats Canada, showed an employment increase of 83,600--well below the 378,000 gain in September and average monthly gains of 395,000 over the past six months (see chart below). Several provinces tightened public health restrictions last month in response to a spike in COVID-19 cases. These m...

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