Consumers still cautious on real estate prices

Canadian consumers are still lacking confidence in the state of the economy and the housing market.

A survey from Bloomberg and Nanos Research shows that there was a slight rebound in positivity for personal finances and the overall economy in the week to August 14, but both are still below average sentiment for the year to date.

For job security and real estate prices the percentage of respondents expecting improvement in the next six months continues to weaken.

Property prices are expected to be higher by 31.73 per cent of those polled, down from 32.15 per cent in the previous week.

Those who believe prices will be lower is at 16.52 per cent with the majority believing there will be little change. Optimism rose slightly for homeowners as well as renters in the weekly survey.
 

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