BC Monthly Real GDP Estimate for December 2021 and Preliminary Estimate for January 2022

The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for December 2021 is 5.1 per cent. For comparison, year-over-year growth in the Canadian economy in December was 3.9 per cent. The preliminary estimate for January 2022 is 4.2 per cent. The BCREA Nowcast estimate of average growth in the BC economy in 2021 was 6.3 per cent. The 4.2 per cent estimated growth in January is the second highest starting point in the history of the Nowcast. Growth in January 2000 started at a Nowcast estimate of 4.5 per cent and ultimately actual real GDP growth for that year was 4.55 per cent.

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BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.