7 July 2014

After the severe winter, the real estate industry finally accelerated supported by hot spring sales season. Last week the largest Canadian lender, Toronto-Dominion Bank, decided to raise its 2014 housing forecasts after a mortgage rate decline. Meanwhile, home sales in Toronto and Vancouver were 15% and 29% higher (respectively) last month than a year ago.

“Canada’s consumer confidence stays near a high record of 2014 mostly due to perceptions of real estate – they remain above the 2014 average and the six-year average,” – added Nik Nanos from Nanos Research Group.