News: Vancouver Real Estate Market

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Posted in 2022, canadian home prices, Economic Forecast, forecast, real estate market, royal lepage
Double digit price increases expected for 2022

After 2 years of strong price appreciation, Canadian home prices are expected to increase significantly in 2022, albeit at a slower pace than in previous years. According to the Royal LePage Market Survey Forecast, the aggregate price of a home in Canada is set to rise 10.5% year-over-year to $859,700 in the fourth quarter of 2022, with the median price of a single-family detached property projected to increase 11.0% to $918,000, and the median price of a condominium expected to increase 8.0% to $594,000....

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Posted in Bank of Canada, Canadian Economy, Covid-19 Economic Data, Economic Forecast, Economic impact of COVID-19, Economic Update, GDP, Job Losses, Oil Prices, Provincial GDP, RBC, RBC Economics, Recession, Recovery Efforts, Statistics Canada, Unemployment Rate

The Bank of Canada economic update reveals one million job losses in the month of March, which exceeded anything we've experienced. Furthermore, the losses in April are said to be far higher compared to last month. All provinces are said to slip into severe recession this year. Here are some of the important statistics you need to know:

RBC Covid-19 Economic Update

  • 20% to 25% of provincial GDP are highly impacted industries like retail trade, transportation services (including airlines), education, arts and recreation, and food...
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