Surging Bets on Canadian Home-Price Decline Dent Confidence

  • Weekly poll shows pessimism on home prices jumped 8.5 points
  • Preliminary data show Vancouver real estate market is cooling

Canadians may finally be getting skittish about real estate.

The share of survey respondents who expect a decline in local housing prices jumped by 8.5 percentage points, the most since weekly polling began three years ago for the Bloomberg Nanos Canadian Confidence Index. The increase to 20.5 percent from 12 percent dragged the broader sentiment index down from 2016 highs.

The reading marks a change from almost unbridled consumer optimism in a housing market that has carried the Canadian economy since the 2008 global financial crisis, even as policy makers warn price gains in some cities are unsustainable. Preliminary data this month from the Real Estate Board of Greater Vancouver show recent government measures to cool the market may be taking effect

Surging Bets on Canadian Home-Price Decline Dent Confidence

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