We also think spending is being supported by the impact of cheaper gasoline, since the average Canadian household is spending about $ less per year to fill their tank. On the other side of the ledger, the decline in the Canadian dollar has raised the price of a wide range of imports.
A strong consumer is, of course, a key contributor to Canada’s strong housing market. However, a number of other factors are at play, as seen in the significant regional divergences in housing sales and prices.