{"id":23077,"date":"2023-12-12T10:10:00","date_gmt":"2023-12-12T18:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=23077"},"modified":"2023-12-09T13:53:34","modified_gmt":"2023-12-09T21:53:34","slug":"the-environment-for-commercial-real-estate-remains-highly-abnormal-uncertain","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/12\/the-environment-for-commercial-real-estate-remains-highly-abnormal-uncertain\/","title":{"rendered":"The Environment for Commercial Real Estate Remains Highly Abnormal &amp; Uncertain"},"content":{"rendered":"<p style=\"text-align: justify;\">The BCREA Commercial Leading Indicator (CLI) fell 0.6 points to 145.5 in the third quarter of 2023, while the six-month moving average fell to 146.3 points. Compared to the same quarter in 2022, the index was down by 3.2%.<\/p>\n<p style=\"text-align: justify;\">The CLI rose in the employment category while declining in the economic and financial categories. A 5% increase in office employment (finance, insurance, and real estate) more than counteracted a 2% drop in manufacturing employment, causing a net increase in the index\u2019s employment component from the second quarter. Meanwhile, modest declines in inflation-adjusted retail sales, wholesale trade, and manufacturing sales combined to pull the economic component into negative territory. Finally, rising spreads between corporate and government borrowing costs indicated growing borrowing costs for developers and pulled the financial component downwards. At the same time, a drop in average prices of Real Estate Investment Trusts further dragged the financial component into negative territory.<\/p>\n<p><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/clireport.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the full Commercial Leading Indicator PDF.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/economics\/commercial-leading-indicator-q2-2023\/\" target=\"_blank\" rel=\"noopener\">Commercial Leading Indicator Resumes Decline in Third Quarter<\/a> by Ryan McLaughlin | Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BCREA Commercial Leading Indicator (CLI) fell 0.6 points to 145.5 in the third quarter of 2023, while the six-month moving average fell to 146.3 points. Compared to the same &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/12\/the-environment-for-commercial-real-estate-remains-highly-abnormal-uncertain\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-23077","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Environment for Commercial Real Estate Remains Highly Abnormal &amp; Uncertain &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2023\/12\/the-environment-for-commercial-real-estate-remains-highly-abnormal-uncertain\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Environment for Commercial Real Estate Remains Highly Abnormal &amp; Uncertain &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The BCREA Commercial Leading Indicator (CLI) fell 0.6 points to 145.5 in the third quarter of 2023, while the six-month moving average fell to 146.3 points. Compared to the same &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/12\\\/the-environment-for-commercial-real-estate-remains-highly-abnormal-uncertain\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/12\\\/the-environment-for-commercial-real-estate-remains-highly-abnormal-uncertain\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"The Environment for Commercial Real Estate Remains Highly Abnormal &amp; 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