Fewer consumers expect real estate prices to rise

The percentage of Canadian consumers who believe that real estate prices will be higher in 6 months fell again last week. The Bloomberg Nanos Canadian Confidence Index fell to 52.04 last week, continuing its downward trend, and those who believe that housing values will increase was down to 32.15 per cent (from 32.31 per cent.) Renters continue to be more optimistic overall than homeowners and those in the Prairies and Ontario are showing greater sentiment while those in other areas are showing less. The index tracks weekly trends in confidence in the economy, job security, personal finances and real estate prices.