The British Columbia Real Estate Association
(BCREA) Commercial Leading Indicator (CLI) edged lower by 1.3 points in the
fourth quarter of 2012, to an index level of 111.3. On a year-over-year basis,
the CLI was up 0.8 per cent during the fourth quarter of 2012.
The decline in the CLI translates to a slight
rolling over in the underlying index trend, signaling a potential slowing of
activity for the first half of 2013.
"A
modest slowing of commercial real estate activity is in general accord with
2013 being somewhat of a transition year for the economy,” said Brendon
Ogmundson, BCREA Economist. “We anticipate that slower growth through the first
half of 2013 will give way to a more robust economy in 2014 and therefore an
increase in commercial market activity."
Copyright BCREA - reprinted with permission
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