The index that examines the future of home prices in the next six months shows that by the end of last week 38.25 per cent thought they would be higher, up from 36.85 per cent the week before and almost five percentage points above the year’s average so far.
Those who thought prices would be lower accounted for 18.17 per cent; 39.78 per cent said they would stay the same; 3.8 per cent don’t know.
All four sub-indexes improved last week with real estate, the economy, job security and personal finances above or near 2015 averages. Overall the confidence index advanced to 56.09 from 55.37 a week earlier.
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Optimism for the housing market is still rising according to the latest Bloomberg/Nanos Canadian Confidence Index.