Consumer confidence on real estate weakens

The bullish view of the Canadian real estate market by consumers has weakened in the latest survey from Bloomberg and Nanos Research.

The weekly Canadian Confidence Index dropped to 58.10 in the week ending May 10, from 58.98 a week earlier; it remains well above the 2017 low of 56.06 seen at the end of January.

The sub-index on the economy and real estate prices was down from 59.07 to 57.66 and positive ratings for home prices dropped to 47.69 per cent from 50.10 per cent.

“The very bullish six week run on positive perceptions of the real estate market has halted after hitting the highest levels since Nanos started tracking in 2008,” said Nanos Research Group Chairman Nik Nanos.

Only Ontario showed an increased confidence overall.

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