Posted in Winnipeg Market Information
From WinnipegREALTORS® Real Estate News Publication, January 11, 2013
What is in store for the local MLS® market in the New Year?
As is so often the case, we glean information from trends that have transpired to help us determine what lies ahead.
So what drove 2011 and was also present in 2012 that is likely to remain in place this year? Let’s start with interest rates. With the overnight Bank of Canada rate remaining steadfast at one per cent and no one calling for much movement due to global debt issues, it should be a relatively safe bet to predict interest rates will stay historically low. As has been evident for the past few years, when a low interest rate environment has been the norm, those in a position to finance a property on such attractive terms will be back in the market in 2013.
While interest rates make housing more affordable, jobs give people the means and confidence to acquire a home. Manitoba’s employment statistics were strong at...
WinnipegREALTORS® Press Release, January 7, 2013
WINNIPEG - 2012 has to be regarded as another exceptional year with sales only nudged out in 2007 and 2011 by the slightest of margins. Annual dollar volume resulted in moving the bar a little bit higher again and it is only the second time in WinnipegREALTORS® 109-year history where sales dollar volume has exceeded the $3 billion mark achieved in 2011. In only 5 years, the total MLS® dollar volume has increased 44%. This increase equates to nearly $1 billion.
While December MLS® sales fell short of last year’s record level for this month, the over 600 sales are still 5% above the ten-year average. There are enough of them to bring the year-end total sales to just over 13,000, a milestone level only reached twice before in 2007 and last year. Despite MLS® monthly dollar volume being well off 2011 December’s all time best; the annual dollar volume eclipsed the $3 billion record level established last year. New...