Real estate is driving consumer optimism says Nanos

Optimism in Canada’s real estate market is giving consumers are warm feeling as we head into winter.

The weekly barometer of Canadian consumer confidence from Bloomberg and Nanos shows an overall uptick in confidence to 59.46 for the week ending November 17, up from 58.83 a week earlier.

Although short of the 61.19 recorded in August, the index remains well above the 2017 average of 58.41.

“Over the past four weeks positive views on the future value of real estate and the economy have increased,” said Nanos Research Group Chairman Nik Nanos.

The subindex focused on job security and personal finances including mortgages was down slightly while the measure of optimism in real estate and the overall economy gained.

"While the latest survey appears to confirm building confidence in the economy and real estate values, there is a perhaps more tentative outlook regarding perceptions of job security and personal finances--factors that can affect future household spending,” explained Bloomberg economist Robert Lawrie.

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