Economics
Real Estate Optimism Blows Past Pre-Virus Levels in Canada
- Belief in higher home prices lifts consumer confidence index
- Vaccine distribution is also buoying sentiment on the economy
Burnaby, British Columbia, Canada.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Canadians are the most confident in more than three years that real estate prices will continue to rise, according to weekly telephone polling, a positive signal for the recovery.
About half of respondents, or 49.2%, see home prices climbing over the next six months, the highest share since May 2017. That helped lift the Bloomberg Nanos Canadian Confidence Index, a composite measure of financial health and economic expectations, to 55.1 last week, levels last seen in early March.