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
Bodies recovered in Mexico likely 2 Australians, 1 American who went missing: officials
Three bodies recovered in an area of Baja California are likely to be those of the two Australians and an American who went missing last weekend during a camping and surfing trip, the state prosecutor’s office said Saturday.
Maple Leafs eliminated from NHL playoffs with Game 7 OT loss to Bruins
Sheldon Keefe told his players hockey history would remember them one way or another.
Amid climate change warnings, Canadians lukewarm on electric vehicles
Amid scientists' warnings that nations need to transition away from fossil fuels to limit climate change, Canadians are still lukewarm on electric vehicles, according to a study conducted by Nanos Research for CTV News.
What a judge's gag order on Trump means in his hush money case
A gag order bars Trump from commenting publicly on witnesses, jurors and some others connected to the matter. The New York judge already has found that Trump, the presumptive Republican nominee for president, repeatedly violated the order, fined him US$9,000 and warning that jail could follow if he doesn't comply.
No proof man lied to brother about number of kittens born in litter, B.C. tribunal rules
A man was denied a $5,000 payout from his brother after a B.C. tribunal dismissed his claim disputing how many kittens were born in a litter.
Pro-Palestinian protesters at USC comply with school order to leave their encampment
Protesters left a pro-Palestinian encampment at the University of Southern California early Sunday after they were surrounded by police and told they could face arrest if they didn’t go.
Trudeau 'absolutely' best person to lead the Liberals in next election: LeBlanc says
Cabinet minister Dominic LeBlanc insists he's not planning a leadership campaign to head the Liberal party, should current leader and Prime Minister Justin Trudeau resign, seemingly quashing rumours he's planning to make a move for his boss' job.
Bombarded with spam texts? Stats show the problem is getting worse in Canada
In particular, messages that involve phishing — an attack where a scammer tries to trick the recipient into clicking a malicious link, downloading malware or sharing sensitive information — are on the rise.
Madonna's biggest-ever concert transforms Rio's Copacabana beach into a massive dance floor
Madonna put on a free concert on Copacabana beach Saturday night, turning Rio de Janeiro's vast stretch of sand into an enormous dance floor teeming with a multitude of her fans.