On a nationwide basis, confidence towards housing and the economy remains steady
While consumer sentiments toward housing and the economy continue to recover, confidence is noticeably weak in one particular region, according to new polling by Bloomberg and Nanos Research.
The Bloomberg-Nanos Canadian Confidence Index stood at 58.87 as of the week ending Feb. 11, versus the 56.98 reading four weeks prior and the 12-month high of 66.42.
“The week-over-week tracking in the Bloomberg Nanos Canadian Confidence Index remains generally steady. Canadians living in the Prairies continue to lag those from other regions on the confidence front,” said Nik Nanos, chief data scientist at Nanos Research.
The confidence index in the Prairies exhibited improvement on a weekly basis (51.89 to 53.35), but it still paled in comparison to British Columbia (59.37) and Atlantic Canada (59.89). Optimism was strongest in Quebec (60.82) and Ontario (61.88), Nanos said.
Read more: How did housing markets in the Prairies do last month?
The share of respondents expecting an increase in home prices in their neighbourhoods over the next six months inched back slightly from 64.01% to 63.79% last week. Another 27.67% are anticipating steady prices, while 6.05% are preparing themselves for price declines.
Meanwhile, the share of Canadians expecting a stronger national economy in the next half-year improved from 22.2% to 23.16%, while 42.7% are bracing for weaker performance and 25.89% believe that the economy will remain stagnant during this period.
