What is a home sale worth to the Metro Vancouver economy?
Each time a home changes hands, the transaction generates significant spin-offs, creates jobs and keeps our communities growing.
In BC, a residential sales transaction generates $64,500 in economic spin-offs and .49 jobs according to the Canadian Real Estate Association.
In 2016, 39,943 homes changed ownership in the Real Estate Board of Greater Vancouver’s area, generating $2.5 billion in economic spin-off activity and an estimated 17,600 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $40 billion in 2016.
In 2015, the real estate and construction sectors together produced more than one-quarter – or fully 26.5% of the province’s GDP.