Statistics Canada
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Real Estate Agents, Brokers, Appraisers and Other Real Estate Activities
2006
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Highlights
- Real estate agents, brokers, appraisers and other real estate industries reported total operating revenues of $10.6 billion in 2006, an 8.1% increase from the previous year.
- Canada's real estate industry has benefited from sustained high demand for real estate that resulted in increased sales and higher real estate prices.
- With steady economic growth, real estate prices and unit sales continued to rise despite a slight increase in mortgage rates. Statistics Canada's national New Housing Price Index grew by 9.7% in 2006, close to five times the rate of inflation.
- The real estate market in Alberta continued to flourish in 2006. For the second straight year, the province led national growth with a 37% increase in operating revenues.
- Manitoba also recorded double-digit annual growth (+19%) in 2006. However, in Central Canada, growth rates were much more modest.
- Real estate sales in Ontario account for about half of operating revenues earned by the real estate agents, brokers, appraisers and other real estate industries. Those in British Columbia accounted for a distant 19%, and those in Alberta, 13%.
- These industries are dominated by the offices of real estate agents and brokers, which generate 87% of the total revenue.
