BC Commercial Indicator

BC Commercial Leading Indicator Continues to Signal Strength in 2012

Vancouver, BC – May 31, 2012. The BCREA Commercial Leading Indicator (CLI) rose for the third consecutive quarter, advancing 1.3 index points, or 1.2 per cent, to a revised index level of 111.91. On a quarter-over-quarter basis, the CLI is now 3.2 per cent above its level in the first quarter 2011.

                                


"The trend in the CLI has turned sharply upward, reflecting several months of strong underlying data,” said Brendon Ogmundson, BCREA Economist.  “This signals a potential acceleration commercial real estate activity in the subsequent two to four quarters."

This quarter’s increase in the CLI was driven by calmer global financial conditions to start 2012 as Euro-based fears cooled. The financial component of the CLI accounted for over one-third of CLI’s gain in the first quarter, with manufacturing output and employment growth also making a significant contribution.

“However, given the re-emergence of fears surrounding the Eurozone, last quarter’s gains may be only temporary,” added Ogmundson.
To view the full BCREA Commercial Leading Indicator index, click here.

For the complete news release, including detailed statistics, click: here.


For more information, please contact:

Brendon Ogmundson
Economist
Direct: 604.742.2796
Mobile: 604.505.6793



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.