OPTIMISM OVER HOME PRICES REACHES POST-PANDEMIC HIGH

Confidence in the Canadian housing market continues to boom, even as officials grapple with a resurgence of COVID-19 that's slowing the economy, telephone polling shows. Some 45 per cent of respondents in a weekly survey by Nanos Research Group believe the value of real estate in their neighbourhood will increase over the next six months, the highest reading since mid-March, when mass shutdowns were imposed. At the same time, only 13 per cent believe values will decrease, the smallest reading over the same period. Housing has been a consistent bright spot for the past several months. Historically low interest rates combined with the shift toward working from home is creating strong demand in a market that has limited supply, driving prices to record highs in many markets.