Forecast: Self-Employed People in Real Estate Sector in Canada

The self-employed workforce in Canada's real estate sector showed varying trends over the past decade. From 2013 to 2019, the sector experienced moderate growth with occasional dips, culminating in a significant downturn in 2020, where hours fell sharply by 26.76% year-on-year, largely due to the COVID-19 pandemic. Recovery followed in 2021 with an 18.19% increase, and though the growth was minimal in subsequent years, it stabilized.

As of 2023, the volume of self-employed hours in the real estate sector stood at 144.72 million, having grown 0.83% from the previous year. The five-year CAGR from 2019 to 2023 showed a slight decline of -1.43% annually.

Looking forward, the sector is projected to grow at a 0.79% CAGR over the next five years, reaching a forecasted volume of 152.03 million hours by 2028, with an overall growth rate of 3.99% from 2023 to 2028.

Future Trends to Watch For:

• Technological advancements and digital platforms influencing real estate transactions and operations.
• Economic and regulatory shifts impacting property markets and self-employed roles.
• Potential impact of remote work trends and urban planning on market dynamics.
• Increased emphasis on sustainability and eco-friendly properties.