Vancouver, BC – February 27, 2014. The BCREA Commercial
Leading Indicator (CLI) rose for the fourth consecutive quarter, increasing 0.8
points in the fourth quarter of 2013. The index is currently sitting at 115.1.
On a year-over-year basis, the CLI is 2.3 per cent above the fourth quarter of
2012. The index reached an all-time high of 116.1 in the second quarter of
2007.
After a full year of a rising CLI index, the trend
underlying the CLI has moved sharply upward from its previously flat trend. An
upturn in the CLI trend is historically a good signal of expanding commercial
real estate activity in the following two to four quarters, which bodes well
for growth in 2014.
“The CLI rose for a fourth consecutive quarter on
encouraging signs of improving growth in the BC economy,” said Brendon
Ogmundson, BCREA Economist. “The rising trend in the CLI signals further
strength ahead for the commercial real estate market in 2014.”
