Chris Dudeck

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Drop in House Sales on Radar; Analysts weigh in following latest stats

From Winnipeg Free Press Publication, October 6, 2012.  By Todd Lewys.

Decent article commenting on the recent WinnipegREALTORS® Press Release, October 5, 2012.  Some notable exerpts below:

Canada Mortgage and Housing Corp.'s senior market analyst for Manitoba said it's premature to conclude a correction is underway when the market fundamentals remain so strong.

Dianne Himbeault said when the federal government tightened mortgage lending guidelines in 2009 and in 2010, MLS sales declined for several months and then rebounded because demand for homes remained strong.

"So we could be seeing that again," she said,.

Przybyl said it's also noteworthy that 34 per cent of the detached homes that changed hands last month sold for more than the listed price. That's down only three per cent from September last year, and 2011 was the second best year on record for MLS sales in Winnipeg.

"That tells me we still have demand from buyers."

True, September unit sales were down, but the reality is its way too soon to start making market trend predictions.  Market fundamentals in Winnipeg are still solid.  Let's wait and see what October brings . . . 

Full Winnipeg Free Press article can be read here.


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