A widely followed index from the B.C. Real Estate Association is signaling a potential slowdown in the commercial real estate sector for the first time in a year.
The Commercial Leading Indicator index, based on hiring, construction, leasing and related trends, was at 114.5 in the first quarter, breaking a string of four consecutive quarterly increases.
The index reached an all-time high of 116.2 in mid-2007.
“Although [the index] posted a modest decline in the first quarter, momentum in the underlying trend is still signaling a positive economic environment in the commercial market,” said Brendon Ogmundson, BCREA economist. He added that “an expected acceleration” in the B.C. economy could mean the recent dip in the index is “temporary.”
