According to Daniel Wong’s Better Dwelling article, Vancouver’ unemployment rate is back in the single digits. Last October the unemployment rate was 5% while this October the rate is down 1.4% from September and currently sits at 9.7%.
Continue reading →Recovery
Why BC’s Housing Market Remains Strong Despite COVID-19
“Pandemic economics are proving to be very unusual. Many of the trends we are seeing are without precedent and significant uncertainty remains, but we are cautiously optimistic that this housing recovery will continue,” notes Ogmundson.
Continue reading →Strong Recovery Continues for BC Housing Markets
“The strong recovery in sales activity continued in July,” said BCREA Chief Economist Brendon Ogmundson. “Increased demand for more living space combined with an undersupplied market is producing significant upward pressure on home prices, particularly in the market for single-family homes.”
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