The real estate employment sector in Canada experienced consistent growth from 2013 to 2023, with the number of employees rising from 195.75 thousand to 243.69 thousand. Analyzing the year-on-year variations, the market saw fluctuations but maintained a positive trajectory. In the recent two years, the year-on-year growth rates were 1.56% in 2022 and 1.5% in 2023. Over the last five years, the Compound Annual Growth Rate (CAGR) averaged 1.95%.
Forecasts from 2024 to 2028 predict a continued upward trend, with the employee count projected to reach 260.69 thousand by 2028. The forecasted five-year CAGR is slightly lower at 1.07%, indicating a steady but decelerating growth rate.
Future trends to watch for include:
- Potential impact of economic fluctuations on employment growth in real estate.
- Technological advancements and their adoption in the real estate sector.
- Regulatory changes and their possible effects on market dynamics.