Real estate: optimism at a peak for three years

Real estate: optimism at a peak for three years

Canadians have never been so optimistic about the growth of the real estate market in three years, according to a poll released Tuesday.

For several years, the firm Nanos has been carrying out a weekly survey on behalf of the Bloomberg agency, but never since May 2017 has enthusiasm for the real estate sector been as high as this week.

In fact, nearly half of respondents, or 49.2%, expect home prices to continue to climb for the next six months.

This data allows the Bloomberg Nanos Canadian Confidence Index, which assesses the confidence of Canadians in the economy thanks to various factors, to return to its pre-pandemic level.

“Consumer confidence in Canada continues to strengthen with vaccine news,” noted Nik Nanos, chief data scientist at Nanos.

The polling company questions 250 Canadians weekly.

Nanos had started to see renewed optimism over the summer, but the second took a toll on Canadians’ morale.

While they are now confident that macroeconomic indicators will improve in the coming months, Canadians remain rather worried about their personal finances.

Nanos did not observe that the needles had moved in his last probe shots.

Almost 15% of people say their economic situation has improved compared to last year, while around 26% say the opposite.

Share Button