Vancouver, BC –June 7, 2018. The BCREA Commercial Leading Indicator (CLI) declined for the first time in three years, falling 1.5 points in the first quarter of 2018 to an index level of 134.2. That decrease represents a 1.1 per cent dip over the fourth quarter of 2017. The index is still 3.4 per cent higher than this time one year ago.
“The BC economy appears to be slowing following four years of remarkable growth,” says BCREA Deputy Chief Economist Brendon Ogmundson. “That slowdown likely means a slight drop-off in commercial real estate activity on the horizon.”
The underlying CLI trend, which smooths often noisy economic data, remains positive, reflecting several quarters of strong economic activity and employment growth. A still moderately rising trend signals continued, albeit slower, growth in commercial real estate activity.
To view the full BCREA Commercial Leading Indicator index, click here.
The British Columbia Real Estate Association (BCREA) is the professional association for about 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province's 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.
To demonstrate the profession’s commitment to improving Quality of Life in BC communities, BCREA supports policies that encourage economic vitality, provide housing opportunities, respect the environment and build communities with good schools and safe neighbourhoods.