7 August 2019

However, the market is recovering, pushed by stronger economic growth and lower borrowing costs. Last month, Toronto and Vancouver reported a 24% sales increase each. Housing starts were also up in June, with multiple-family dwellings leading the way.

It’s a significant shift for Canadian consumer confidence, which has been almost flat for more than a year until May.

Here are some of the interesting findings from the report:

• Canadians are less pessimistic about the economic forecast. The gap between pessimists and optimists went down from 7% in June to 6.2% last month.
• The largest confidence gains were seen in Ontario and British Columbia, while Quebec and the prairie provinces showed decreases.
• About 69% of respondents feel secure or somewhat secure about their jobs.
• 43.3% of the respondents predict higher housing prices. The last time we’ve seen such results was in May 2017.