Okanagan / Shuswap Commercial Real Estate Market showing signs of recovery

As with all markets, the Okanagan, Shuswap Real Estate market follows definite trends and cycles. One of those cycles is that Real Estate recovers starting at low end residential and moving up in prices then after some time we see the commercial market following suit. The statistics have been telling us that the market leveled off about a year ago. This spring activity has picked up in all three areas that we cover; the Central Okanagan or Kelowna and area, the North Okanagan, covering Vernon and Enderby and Armstrong and the Shuswap area covering Salmon Arm and the Sicamous, all in the interior of British Columbia. The British Columbia Real Estate Association uses a statistic called the Commercial Leading Indicator (CLI) to assess what is happening with Commercial Real Estate in the area. The CLI has risen for the third consecutive quarter. It rose in the first quarter of 2012, 1.3 points to 111.91. When we compare this to the first quarter of 2011 we are up 3.2%. As with most other Real Estate Stats in the Okanagan, Shuswap area the CLI rose through the boom to a peak in late 2007 and dropped dramatically till early 2010. For the full story and graphs to illustrate the CLI Click Here 

Blog Archives