Real estate sentiment slips among consumers

Consumer confidence has slipped with real estate among the key concerns according to the latest poll from Bloomberg and Nanos Research.

The Canadian Confidence Index was up week-over-week but down almost a point to 58.50 compared to from 4 weeks ago (59.44) which was the 2017 high.

“Recent declines in consumer confidence scores were most likely to be driven by a cooling of real estate sentiment after hitting a high in early May,” said Nanos Research Group Chairman Nik Nanos.

Positive ratings were lower for real estate and the Canadian economy but higher for personal finances including mortgages and job security.
Confidence overall was higher in BC and the Prairies but lower in the other provinces and all may get a boost Wednesday when GDP data is released.

“According to a Bloomberg survey, economic analysts are now looking for a 2.4 per cent annual growth rate for the year. And the Bank of Canada also reports an improving outlook, all of which should eventually filter down to the labor market and households,” said Bloomberg economist Robert Lawrie.

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