Mandeep Singh Ghotra PREC*'s blog

Canadian Monthly Economic Growth (Q1'2022) - May 31, 2022

Source - BCREA

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February Market Snapshot: Canada Sees a Jump in New Supply

Source - The Canadian Real Estate Association

Canadians looking to purchase a home will be happy to hear there was a jump in new listings that hit real estate markets across the country in February 2022.

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VIDEO: Must-share with clients – 2020 in review – a market like no other

From a drizzle to a torrential downpour in six months – Fraser Valley’s market in 2020 did exactly what no one expected. Least of all REALTORS®.

Home sales started to rebound from the lockdown in the summer and culminated in the strongest December in the history of the Board.

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Sales volumes remain exceptional in the Fraser Valley -October 2020

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08 Aug 2020

Sales and new listings reach near record-setting numbers in the Fraser Valley

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04 May 2020

Fraser Valley real estate market contracts and adapts in response to public health measures to mitigate COVID-19

Source- Fraser Valley Real Estate Website(http://www.fvreb.bc.ca)

SURREY, BC – As anticipated, real estate activity saw a steep decline last month in response to the pandemic lockdown, resulting in one of the slowest Aprils in Fraser Valley history.

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10 Apr 2020

COVID-19 hit to housing market is just the beginning of a tough period

Source- RBC

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09 Apr 2020

Bank of Canada lowers overnight rate target to ¼ percent

Sources(https://www.bankofcanada.ca/2020/03/press-release-2020-03-27/)

The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system and the economy during the COVID-19 pandemic.

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09 Apr 2020

Federal Government Wage Subsidy Updates

Information on CEWS

CEWS was announced by the Federal government on March 27 to help employers keep and return workers to their payroll through the challenges posed by the COVID-19 pandemic.

CEWS is meant to provide a 75-per-cent wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020.

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09 Apr 2020

Canada’s COVID-19 Economic Response Plan: Support for Canadians and Businesses

Support for Canadians (Source- www.canada.ca/department-finance)

Temporary Income Support for Workers and Parents

For Canadians without paid sick leave (or similar workplace accommodation) who are sick, quarantined or forced to stay home to care for children, the Government is:

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