Housing Optimism Hits Two-Year High as Canadian Confidence Rises

Optimism for housing prices in Canada has reached a two-year high as consumer confidence continues its upward march.

The share of Canadians expecting home prices to increase in their neighborhoods over the next six months rose to 43.3 percent last week, the highest level since October 2014, polling for the Bloomberg Nanos Consumer Confidence Index shows. At the start of this year, just 30.6 percent believed home prices would increase.

Nationally, the broad consumer confidence score reached a 2016 high of 57.7, driven by record levels in British Columbia and a rebound in the energy-rich prairies, where optimism rose to a 2016 high of 48.9 despite the commodities price crunch and a wildfire near Alberta’s oil sands that has sapped production levels.


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