Confidence in real estate prices slides

Consumer confidence in real estate prices has taken a hit in the latest index from Bloomberg and Nanos Research.

The overall index was down slightly at 56.24 last week compared to 36.34 a week earlier; but the expectations index, which tracks confidence in the economy and real estate prices, was down to 53.62 (from 54.12).

When asked about expectation for real estate prices over the next 6 months, 38.10 per cent said they would be higher (down from 38.59 a week earlier), 17.45 per cent believe they will be lower and 40.79 per cent said they would stay the same.

Younger Canadians were generally more optimistic about the overall economy including job security, personal finances/mortgages, and real estate. Renters showed more optimism than homeowners.

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