Hot housing propels Canadian confidence to record high
Shelly Hagan, Bloomberg News VIDEO SIGN OUT
Canadian consumer confidence hit record highs for a third straight week amid soaring sentiment around housing, despite a third wave ripping through the country and forcing new lockdowns.
Two-thirds of Canadians believe home values will continue rising, according to polling by Nanos Research Group for Bloomberg News. Thatâs the highest reading since Nanos began polling that question in 2008.
Every week, Nanos Research surveys 250 Canadians for their views on personal finances, job security and their outlook for both the economy and real estate prices. The Bloomberg Nanos Canadian Confidence Index, a broad measure of sentiment based on the polling, jumped to 64.1 last week, also a record. The index has increased almost eight points in the past seven weeks and was hovering at around 56 before the pandemic, which is also about its historical average.
Canadian consumer sentiment hits another record on housing
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