Commercial Real Estate Gains Momentum in BC
Vancouver, BC – December 1, 2014. The BCREA Commercial Leading Indicator (CLI) rose 1.4 index points to a new record high of 118.4, surpassing the previous high of 117.1 set in the second quarter of 2014.
“Momentum has been building in sectors most important to commercial real estate,” said BCREA Economist Brendon Ogmundson, “That momentum should translate to a strong year for the commercial market in 2015.”
The CLI has now advanced for seven consecutive quarters. That trend signals significant strength in the economic environment underlying the commercial real estate market.
A rising trend in the CLI generally points to growth in investment, leasing and other commercial real estate activity two to four quarters ahead. Given the current trend, we would expect growth in the commercial real estate market for the remainder of 2014 and the first half of 2015.
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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.
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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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