Home sales are a key driver of the Greater Vancouver economy

Posted on November 17th, 2013

Each time a home changes hands, the transaction generates spin-offs, creates jobs and keeps our communities growing.

How much does this amount to?

In BC, a residential sales transaction generates $64,500 in economic spin-offs and 0.49 jobs according to new data from the Canadian Real Estate Association.

In 2012, in the Metro Vancouver area, a total of 25,032 homes sold on the MLS® generating $1.6 billion in economic activity and 12,265 jobs.

“All told, jobs generated directly and indirectly through the sale and purchase of MLS® homes accounted for about 1 in 98 jobs across the entire economy.”  Canadian Real Estate Association

For information, contact Andrew Peck, vice president and general manager at apeck@royalpacific.com