BC Commercial Leading Indicator Points to Stability in Second Half of 2013, David Valente Prudential Sussex Realty
For immediate release
BC Commercial Leading Indicator Points to Stability in Second
Half of 2013
Vancouver, BC – May 28, 2013. The British Columbia Real Estate Association (BCREA) Commercial Leading Indicator (CLI) bounced back in the first quarter of 2013, rising 0.4 points and partially offsetting the decline in the fourth quarter of 2012. The index is currently sitting at 112.2. On a year-over-year basis, the CLI is 0.2 per cent above the first quarter of 2012.
The increase in the index was the result of stronger economic activity, particularly in the manufacturing sector due to a large increase in wood products output. Momentum in Canadian real estate investment trusts (REIT) returns and narrower risk spreads translated to a positive contribution in the index’s financial component. The employment component of the index, however, continues to lag due to a sharp slowdown in manufacturing employment.
"The increase in the CLI following last quarter’s decline has meant an overall flattening in the index’s underlying trend,” said Brendon Ogmundson, BCREA Economist. “This indicates that the slowdown signaled previously for the first half of this year will likely give way to modest growth in the second half of 2013."
- 30 -
To view the full BCREA Commercial Leading Indicator index, click here.
For more information, please contact:
Brendon Ogmundson |
Damian Stathonikos |
Economist |
Director of Communications and Public Affairs |
Direct: 604.742.2796 |
Direct: 604.742.2793 |
Mobile: 604.505.6793 |
Mobile: 778.990.1320 |
|
|
BCREA represents 11 member real estate boards and their approximately 18,000 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 (cpe).
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.
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.