Blog by Andrew Peck

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Do home sales matter to our communities?

Do home sales matter to our communities?

We know that each time a home changes hands, the transaction generates significant spin-offs, creates jobs and keeps our communities growing.

When we help sellers prepare their home for sale, we see the landscapers, the house painters, the roofers and the gutter cleaners they hire.

We also see our buyers hiring home inspectors and surveyors and later, in their new home, renovators. We see the new drapes and appliances and lawn furniture and bedding plants.

Everyone involved is working, and in turn spending in their neighbourhoods.

How much?

The Canadian Real Estate Association (CREA) has released new data that finds a home sale generates $64,500 in economic spin-offs and 0.49 jobs in British Columbia.

It adds up.

In 2015, in my board area - the Real Estate Board of Greater Vancouver, a total of 42,326 homes sold on the MLS® generating $2.73 billion in economic activity and 20,740 jobs.

The dollar value of residential sales transacted through the MLS® system in Greater Vancouver totaled $39 billion in 2015.

All told, jobs generated directly and indirectly through the sale and purchase of MLS® homes accounted for about one in 98 jobs across the entire economy, according to the Canadian Real Estate Association. 

Is our housing market at risk?

May 31st, 2017
Is our housing market at risk? Today, the International Monetary Fund reported that Canadian households are highly indebted and housing affordability, particularly in Vancouver and Toron...Click here to read more detail about 'Is our housing market at risk?'

Moving towards a National Housing Strategy

May 1st, 2017
Moving towards a National Housing Strategy The Canadian Real Estate Association and its member real estate boards and associations across Canada have long advocated for better access to ...Click here to read more detail about 'Moving towards a National Housing Strategy'

What are the key challenges we face as a profession?

February 18th, 2016
What are the key challenges we face as a profession? If someone were to ask me what one characteristic Realtors® share, I'd say - adaptability.  Take a minute and think about i...Click here to read more detail about 'What are the key challenges we face as a profession?'

Will a luxury or speculation tax create more affordable housing?

February 2nd, 2016
Will a luxury or speculation tax create more affordable housing? In the last month, both the Mayor of Vancouver and economists from the University of British Columbia and Simon Fraser Un...Click here to read more detail about 'Will a luxury or speculation tax create more affordable housing?'