Real estate expectations decline

Optimism that real estate prices will be higher in 6 months has waned in recent weeks as concern about the economy increases. The weekly Bloomberg Nanos Canadian Consumer Confidence Index fell in the week ending Dec. 4 to 56.21. That’s down from 56.77 and marks a three-week slide in the index. The sub-index on the economic outlook and real estate prices dropped to 53.30 (from 54.30 a week earlier.) The percentage of respondents who believe real estate prices will increase in the next 6 months fell to 34.38 per cent (from 36.42), near the 2015 average of 34.32 per cent. Optimism overall in the index was down in most regions except for the Prairies. It was lower across older age groups and middle-earners. Both homeowners and renters registered reduced optimism.

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