Commercial Leading Indicator News Release

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For immediate release

BC Commercial Leading Indicator Edges Lower, but Trend Still Points to Growth

Vancouver, BC – May 27, 2014. The BCREA Commercial Leading Indicator (CLI) declined 0.4 points to an index level of 114.5 in the first quarter of 2014, breaking a string of four consecutive quarterly increases. On a year-over-year basis, the CLI was 1.5 per cent above the first quarter of 2013. The index reached an all-time high of 116.2 in the second quarter of 2007.

In spite of last quarter’s dip, the trend underlying the CLI continues to signal growth for the commercial real estate market. An upturn in the CLI trend is historically a good signal of expanding commercial real estate activity in the following two to four quarters.

“Although the CLI posted a modest decline in the first quarter, momentum in the underlying trend is still signalling a positive economic environment for the commercial market,” said Brendon Ogmundson, BCREA Economist. “Moreover, an expected acceleration in the BC economy this year means that the first quarter decline should be temporary.”

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To view the full BCREA Commercial Leading Indicator index, click here.

For more information, please contact: 

Brendon Ogmundson
Economist
Direct: 604.742.2796
Mobile: 604.505.6793
bogmundson@bcrea.bc.ca

Damian Stathonikos
Director of Communications and Public Affairs
Direct: 604.742.2793
Mobile: 778.990.1320
dstathonikos@bcrea.bc.ca

BCREA represents 11 member real estate boards and their approximately 18,500 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education.

To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports policies that encourage economic vitality, provide housing opportunities, respect the environment and build communities with good schools and safe neighbourhoods.

For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada’s real estate boards to ensure maximum exposure of properties listed for sale.

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