As the price of homes in Canada continues to soar higher and higher in the housing markets, the country’s consumers are beginning to lose trust as they become less confident that this trend will be maintained or least for a while.
The Bloomberg / Nanos index of Canadian consumer confidence has experienced and noticed an increase of 8.5 percent in the amount of respondents who are looking forward to the price going down in the next 6 months to come.
The majority of them which makes up about 41.4 percent still think that the price of homes will go up and as for those who have full confidence that the price will remain the same, most of them have backed out causing the percentage to go down to 36.3 percent last week, a decrease from 41.6 percent during the start of this month.
Canadians are beginning to lose their confidence as they know that the price will not remain the same throughout in the market. The past weeks has also proven that there are changes that will occur in the real estate market which will greatly affect the price of houses and the amount they will be sold for.