Real estate outlook lifts consumer confidence

By: Andrew Mayeda Bloomberg, Published on Mon Apr 21 2014

Canadian consumer confidence surged to the highest in more than three years amid rising optimism over the outlook for real estate and the economy.

Canadian consumer confidence surged to the highest in more than three years amid rising optimism over the outlook for real estate and the economy.

OTTAWA — Canadian consumer confidence surged to the highest in more than three years amid rising optimism over the outlook for real estate and the economy.

The Bloomberg Nanos Confidence Index climbed to 60.0 in the week ended April 18 from 59.0 the previous period, the highest level since March 2011. Declines in measures of job security and personal finances tempered the gain.

Buyers are returning to Canada’s real-estate market after one of the harshest winters in decades. Existing home sales rose at their fastest pace in seven months in March, led by transactions in Alberta, the Canadian Real Estate Association reported last week.

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