Housing sales in Winnipeg down 5 per cent from 2017
Housing sales were down in the river city in 2017, and dollar volume fell as well.
Sales were down 5 per cent from 2017, and down 6 per cent from record-setting year 2016. Dollar volume of $3.77 billion in sales also went down year over year, and listings went up 2 per cent to 23,834 listings from 2017, said WinnipegRealtors Thursday.
At the end of the year, 3,235 listings were available for sale.
“Keeping things in perspective, with some of the headwinds we faced in 2018 with higher interest rates and more stringent mortgage qualification requirements, it should be no surprise that 2018 fell short of our best years on record,” said Chris Dudeck, outgoing president of WinnipegRealtors.
“Simply put, we believe fewer buyers were able to qualify and successfully complete a purchase they wished to make in 2018.”
Despite the slide in sales, home prices remained steady, with the average residential-detached or single family home price in 2018 was $321,945, an increase of 2 per cent over 2017.
WATCH: Realtor Michael Froese explains how the new federal mortgage qualifying stress tests are affecting millenials in the marketplace.
© 2019 Global News, a division of Corus Entertainment Inc.