Daily Market Update

Consumer confidence rises but not in the real estate sector… Rural communities at threat from ‘urban sprawl’… And poor data on new home sales in the US…
 

Consumer confidence rises – but not in real estate

An index of consumer confidence has recorded an increase for last week, fuelled by better optimism on job security. However the Bloomberg Nanos Confidence Index was less positive on the housing market as the sub-index on real estate saw a fall in those that expected house prices to increase in the next six month; that marker hit a four month low. Although the real estate stats are still just above this year’s average, it shows that Canadians may be thinking that the boom time if coming to an end, in the light of the mixed messages we have seen recently. Read the full story.

 

Ottawa writer on the ‘scourge of sprawl’ 

As our thirst for urban living grows, so do our cities. Expansion may increasingly be upwards but the traditional outward growth of urban communities is as strong as ever. Ottawa writer Jonathan McLeod says that urban ‘sprawl’ is a threat to our rural communities. As more developments are allowed on previously undeveloped land on the edge of cities, the suburban spills further into the rural. McLeod says that increasing density in city centres should be the focus; he says it reduces the impact on rural areas but also cuts down car journeys and the requirements for greater infrastructure projects. He says that we should all be united against urban sprawl. Read the full story.

 

US new home sales fall to four month low

New figures from The Commerce Department revealed that the housing market south of the border has not yet turned a corner. Despite generally positive news on the US economy and some good indicators on the housing market in general, the stats show that sales of new homes fell to their lowest level in four months; down 2.4 per cent to 412,000 units (seasonally adjusted figures.)  The prognosis is good though, with higher levels of supply and a moderation in prices expected to boost sales in the months to come. Read the full story.

 

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