Winnipeg house sales down in September
The lack of new entrants to the housing market has an effect further up the real estate ladder as well. (File image)
Published Thursday, October 11, 2018 10:30AM CST
Anyone who was hoping to sell their home in September might’ve had a tough time, as new figures from the Winnipeg Realtors Association show sales were down 12 per cent from the year before.
Numbers were also down nine per cent from September’s five-year average of 1,156 sales.
“Winnipeg’s resilient market is being tested this year in light of newly tightened federal mortgage regulations and it is preventing a number of prospective buyers from entering our market,” said Chris Dudeck, president of Winnipeg Realtors says, in a statement.
The lack of new entrants to the housing market has an effect further up the real estate ladder as well.
Dudeck said if sellers are unable to sell their existing home, they’re unable to move on with their plans to buy another.
According to the association, the average days to sell a residential-detached or single family home was 32 days, while condominiums took 39 days to sell.