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Manitoba housing market ‘strong as it ever was’ after quieter spring due to COVID-19

Sales in June were significantly higher than they were last year, according to Winnipeg REALTORS. THE CANADIAN PRESS Jonathan Hayward
The housing market in Manitoba is rebounding from the pandemic, according to the Winnipeg REALTORS organization.
Sales in June were significantly higher than they were last year, according to Winnipeg REALTORS.
Michael Froese with Royal LePage told 680 CJOB March and April were much quieter than usual — but the pent-up demand was evident.
“We kind of looked at this as a U-shaped recovery, and we saw the full U in three months,” he said.
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“We started to see the consumer confidence come back through May. Into June, what we saw was the pent-up demand.
“As people got more confidence with the shape of the economy and with the virus, we saw June exploding.”
Peter Squire
Peter Squire. WinnipegREALTORS
Winnipeg REALTORS says the average price of residential-detached homes were up 1.5 per cent from June 2019 to $340,000, and condos were up 5.4 per cent to $258,000.
Peter Squire, a vice-president at the organization, said all the extra home time Winnipeggers have had over the past four months has probably led a lot of people to consider their options.
“Just being cooped up in houses as people have been the last few months, it’s making them rethink what their plans are going forward in terms of their homeownership desires,” he said.
“I think that demand for homeownership is as strong now as it ever was.

“You’re going to see that across the country. I was talking to our national association today and their numbers are going to be very strong, for June, across the entire country.”

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Click to play video: 'Winnipeg real estate market recovering' Winnipeg real estate market recovering
Winnipeg real estate market recovering – Jul 9, 2020

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