Confidence in home prices declining

The percentage of Canadian consumers who believe that home prices will be higher by Christmas has continued to decline in recent weeks.

A survey carried out weekly by Bloomberg and Nanos Research has found that last week (to July 17) 35.81 per cent said they believe that real estate prices will be higher in six months compared to 37.25 per cent a week earlier and 37.97 per cent the week before that.

Overall, confidence in the Canadian economy fell to below the 2015 average last week at an index of 55.00 from 56.13 in the week prior. 

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