Canadian Employment (August 2020)
Posted on Sep 04, 2020 in Economics
Canadian employment gained 246,000 jobs in August (1.4%, m/m), following a gain of 419,000 in July. Combined with gains in May and June, national employment is now within 1.1 million of its pre-COVID February level. The national unemployment rate fell by 0.7 percentage points to 10.2% from the previous month. August gains were driven by full-time w...Greater Vancouver Real Estate Statistics - July 2020
Posted on Sep 02, 2020 in Market Update
Home sale and listing activity continues to increase in August
Home buyers and sellers remained active across Metro Vancouver in August, with home sale and new listing activity outpacing the region’s historical averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,047 in August 2020...
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,047 in August 2020...
Commercial Activity Impacted by Pandemic in 2020 Q2
Posted on Sep 01, 2020 in Mortgage News
The BCREA Commercial Leading Indicator (CLI) continued to fall in the second quarter of 2020 from 127.6 to 121.9, representing the fourth consecutive quarterly decline. It was the second largest drop in the indicator in over two decades, reflecting the hardest hit months of the pandemic in April and May. Compared to the same time last year, the ind...Canadian Real GDP Q2 - 2020
Posted on Aug 28, 2020 in Economics
The 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...UPDATE: COVID-19 Reopening Dashboard
Posted on Aug 26, 2020 in Economics
The 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...
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...
