The British Columbia Real Estate Association (BCREA)
Commercial Leading Indicator (CLI) rose for the third consecutive quarter,
increasing 0.4 points in the third quarter of 2013 to 114.1. On a
year-over-year basis, the CLI is 0.8 per cent above the third quarter of 2012
after reaching an all-time high of 116.1 in the second quarter of 2007.
After flattening out through 2012, the trend in the CLI
has turned upward. An upturn in the CLI trend is historically a good signal of
expanding commercial real estate activity in the following two to four
quarters.
"The CLI rose for a third consecutive quarter as
growth in retail sales and office employment more than offset a decline in
financial conditions,” said Brendon Ogmundson, BCREA Economist. “The rising
trend in the CLI points to an improving BC economy and stronger commercial real
estate activity in 2014."
Copyright BCREA –reprinted with permission
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