Canadians more optimistic of housing market – survey

In the wake of an improved rate of economic recovery, the number of Canadians holding a more optimistic view of the country’s housing market has noticeably increased, according to a recent survey.
 
The study conducted by the Nanos Research Group—which polls 250 respondents weekly to yield a 4-week average of 1,000 people—showed that as of April 15, approximately 39.4 per cent of Canadians are expecting that housing prices would grow in the next six months. The previous week had 38.3 per cent being optimistic of the market’s prospects in the near future.
 
Meanwhile, 16.6 per cent of the April 15 respondents are looking at price drops within the year, down from 17.1 per cent the previous week.
 
The poll results added that 26.2 per cent are looking forward to a stronger economy in 2016, the highest percentage since mid-November.
 
Nanos Research officials attributed this more upbeat climate to the real estate market’s apparent health, which is continuing to prop up the Canadian economy.
 
“Forward looking views on real estate and the strength of the Canadian economy are noticeably above the 2016 average for those two measures. This is in contrast to perceptions related to job security and personal finances which are flat for 2016,” Nanos Research head Nik Nanos said in a statement, as quoted by Bloomberg.

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