December 29, 2020, by Shelly Hagan
According to the weekly telephone polling by Nanos Research, Canadians are the most confident in more than three years that real estate prices will continue to rise, a positive signal for the recovery.
49.2% of respondents, see home prices climbing over the next six months, the highest share since May 2017.
Record-low interest rates and strong demand for more spacious accommodation pushed Canadian home prices and sales to record highs in 2020. Prime Minister Justin Trudeau’s government has pledged to keep the fiscal taps open to support the recovery, and the income support measures have left households flush with cash.
“Forward perceptions on both the strength of the economy and the value of residential real estate gained a full five percentage points in the past four weeks of tracking.” Nik Nanos, chief data scientist at Nanos Research, said in the report.
What does this mean?
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