BC Commercial Leading Indicator Rises in Second Quarter

Vancouver, BC – September 5, 2013. The BCREA Commercial Leading Indicator (CLI) rose for the second consecutive quarter, increasing 1.2 points from the first quarter of 2013. The index is currently sitting at 113.4. On a year-over-year basis, the CLI is 0.2 per cent above the second quarter of 2012. The index reached an all-time high of 116.1 in the second quarter of 2007.

An increasing CLI in the first half of 2013 offset a sharp decline in the final quarter of 2012 to produce an overall flattening in the index’s underlying trend. This indicates that growth in the commercial real estate sector should continue at an average pace through the remainder of 2013.

"The second quarter saw a significant increase in the CLI as economic activity and office employment rebounded,” said Brendon Ogmundson, BCREA Economist. “However, rising long-term interest rates may present an obstacle to growth in the second half of 2013."

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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

Brendon Ogmundson

Economist

Direct: 604.742.2796

Mobile: 604.505.6793

Damian Stathonikos

Director of Communications and Public Affairs

Direct: 604.742.2793

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.

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.