{"id":24548,"date":"2024-09-03T10:10:12","date_gmt":"2024-09-03T17:10:12","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=24548"},"modified":"2024-08-29T14:06:20","modified_gmt":"2024-08-29T21:06:20","slug":"commercial-real-estate-activity-slower-in-q2-2024","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2024\/09\/commercial-real-estate-activity-slower-in-q2-2024\/","title":{"rendered":"Commercial Real Estate Activity Slower in Q2-2024"},"content":{"rendered":"<p style=\"text-align: justify;\">The BCREA CLI fell 0.4 points to 145.9 in the second quarter of 2024, while the six-month moving average also fell to 146.1. The index is unchanged from the same time last year.<\/p>\n<p style=\"text-align: justify;\"><strong>Second Quarter Highlights :<\/strong><\/p>\n<p style=\"text-align: justify;\">\u2022 The economic activity index declined in Q2 by 0.57 points. Inflation-adjusted retail trade (-1.6%), and wholesale trade (-2.4%) both fell from the previous quarter, pushing the economic component down in spite of growth in manufacturing sales (+2.1%).<\/p>\n<p>\u2022 Office employment (financial, insurance, real estate, and professional services) rose by 3.2% in the second quarter, while manufacturing employment increased by 0.6%. The overall employment component rose by 0.76 points from the previous quarter, contributing positively to the index.<\/p>\n<p>\u2022 The financial component of the index also declined in the second quarter by 0.46 points. Real Estate Investment Trust (REIT) prices declined by -7.5%, pushing the component down. However, interest rate spreads declined for a second consecutive quarter, indicating less perceived short-term risk in the economy. This offset some of the effects of declining REIT prices on the CLI, but the financial component was still negative on net.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/clireport.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the report.<\/p>\n<p><a href=\"https:\/\/www.bcrea.bc.ca\/economics\/commercial-leading-indicator\/\" target=\"_blank\" rel=\"noopener\">Commercial Leading Indicator Signals Slower Commercial Activity in 2024<\/a> by Amit Sidhu | Economist BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BCREA CLI fell 0.4 points to 145.9 in the second quarter of 2024, while the six-month moving average also fell to 146.1. The index is unchanged from the same &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2024\/09\/commercial-real-estate-activity-slower-in-q2-2024\/\">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":[8,13],"tags":[],"class_list":["post-24548","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commercial Real Estate Activity Slower in Q2-2024 &#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\/2024\/09\/commercial-real-estate-activity-slower-in-q2-2024\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Commercial Real Estate Activity Slower in Q2-2024 &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The BCREA CLI fell 0.4 points to 145.9 in the second quarter of 2024, while the six-month moving average also fell to 146.1. 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