Manitoba real estate market seeing declines after surge during pandemic
The Manitoba housing market is experiencing a decrease in the number of homes sold in April 2022 compared to years past.
Peak levels from total sales are down over 27 per cent compared to April 2021.
Stewart Elston, former president of the Manitoba Real Estate Association, said a shortage of properties for sale is one of the main reasons for the decline.
“Right now, we’re sitting in a situation where, if we’re lucky, we have a month and a half’s supply of listings on the market relative to our sales that are going to be coming in the next month,” he said.
Warren Neufeld, president of the Brandon Area Real Estate Board, said there’s more power on the seller’s side, but buyer’s have some options as well.
“Sellers still have a lot of power, so if they’re thinking of selling, now’s the time,” he said. “For buyers, work with your banks or your mortgage broker or whoever, lock in your rates. If you can get a locked-in rate for the next 30, 60, or 90 days, that certainly takes some of the guess work out of what your interest rates are going to do if you do decide to purchase.”
This past April, 1,565 properties changed hands, down 27.2 per cent from the year before. Total sales in that same time frame amounted to $604.7 million, also down 16.2 per cent compared to 2021.
CTVNews.ca Top Stories
A newspaper says video of Prince William and Kate should halt royal rumour mill. That's a tall order
Prince William and his wife Catherine have been filmed at a farm shop near their Windsor home, The Sun newspaper reported -- the first footage of Kate since she had abdominal surgery for an unspecified condition two months ago.
'You ask for your money, they disappear': Ontario man loses $17K to AI crypto scam
A Toronto man is spreading the word of a cryptocurrency scam that lures victims using AI-generated news sites after he lost $17,000 in investments.
Hertz CEO out following electric car 'horror show'
The company, which announced in January it was selling 20,000 of the electric vehicles in its fleet, or about a third of the EVs it owned, is now replacing the CEO who helped build up that fleet, giving it the company’s fifth boss in just four years.
High thoughts: The habits of Canadian cannabis users are revealed in a new StatCan report
Statistics Canada has conducted a series of surveys to measure the impacts of legalized cannabis since the Cannabis Act took effect in 2018. The latest one, the 2023 National Cannabis Survey, sheds light on users' preferences and habits last year.
Demand soars for solar eclipse glasses in Canada. Are they worth buying?
The demand for total solar eclipse glasses used to safely view the rare celestial event has been ramping up as sellers, along with astronomy and eye-care experts in Canada, warn that viewing the eclipse with the naked eye is dangerous.
Trump says Jews who vote for Democrats 'hate Israel' and their religion
Former U.S. president Donald Trump on Monday charged that Jews who vote for Democrats 'hate Israel' and hate 'their religion,' igniting a firestorm of criticism from the White House and Jewish leaders.
Toronto family doctor who called patient's body 'perfect' suspended for 3 months: tribunal
A family doctor in Toronto has been suspended for three months after a disciplinary tribunal found that he failed to follow proper protocols while examining a patient's breasts and made inappropriate comments about her body.
Freddie Mercury's home is on the market for first time since 1980 minus his 'exquisite clutter'
Freddie Mercury's sanctuary in London, where he lived the last decade of his life, is on sale for the first time in nearly half a century -- minus his "exquisite clutter."
'The lost season': Winter comes to a close as Canada's warmest on record
The warmest winter on record could have far-reaching effects on everything from wildfire season to erosion, climatologists say, while offering a preview of what the season could resemble in the not-so-distant future unless steps are taken to cut greenhouse gas emissions.