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Strong start to fourth quarter October MLS® sales of 1,107 increased 8% over October 2017 and 1% over the 5 –year average for this month. Sales rebounded and actually outsold a slower performing September as usually it is the other way around. A record was set with the highest dollar volume ever achieved for the month of October. Just under $330 million was transacted this October, a 13% increase over October 2017. Year-to- date sales of 11,371 are down 5% from the same period in 2017 while dollar volume of $3.36 billion is just shy of 4% off…
Central bank's benchmark rate pushes up borrowing costs for consumers Pete Evans · CBC News · Posted: Oct 24, 2018 10:00 AM ET The Bank of Canada has raised its benchmark interest rate by a quarter point for the fifth time since last summer, pushing up the cost of borrowing for Canadians. The bank's rate is now set at 1.75 per cent. Known as the target for the overnight rate, the benchmark is what Canada's big banks charge each other for short-term loans. It filters down to consumers, because it affects the rates the banks offer their customers for things like variable rate mortgages…
WINNIPEG - August sales of 1,274 are down 1% from August 2017 and up 1% over the 5-year average. Dollar volume of $375 million in August was down less than 1% from August 2017. Inventory of 5,163 MLS® listings at the end of August is up 7% over 2017. Year-to-date sales of 9,218 are off 6% from the same period last year while year-to-date dollar volume of $2.73 billion is down 4% from 2017. Total listings of 17,619 have been entered on the MLS® this year and are slightly ahead of 2017. Where the difference is greater between the two years…
Local market remains very stable and resilient WINNIPEG — July sales activity decreased 4% from July 2017 and was off only 2% from the 5-year average for this month. If you remove the exceptional record-setting month of July 2014 which was close to 1,500 sales, the 1,376 sales transacted this July are less than 1% behind the average sales activity for this month. July 2017 was the second best July on record at 1,438 sales. The narrow range in percentage terms of sales activity between this year and the 5 –year average for all MLS® sales in July is also…
The Canada Mortgage and Housing Corporation says the country's housing sector is facing a high degree of vulnerability to market instability for the eighth straight quarter. The Crown corporation attributes the vulnerability to overvaluation and price acceleration in Toronto, Vancouver, Victoria, and Hamilton. It rated Edmonton, Calgary, Saskatoon, Regina as having moderate levels of vulnerability and Winnipeg, Montreal and Halifax among those with low risks. CMHC says it is seeing signs of moderate overheating in Vancouver although price growth has been slowing over the last two quarters and detached properties in some areas are seeing declining prices. In Toronto, CMHC…
WINNIPEG - June sales activity outperformed May this year and usually it is the other way around. This helps explain adjustments that are going on within the local market to account for more stringent mortgage qualifications based on higher interest rates and the federal stress test. June sales of 1,547 decreased 5% over June 2017 and 1% over the 5-year average for this month. Listing activity for June increased 1% over the same month last year while the current inventory of 5,206 at month end was up 6%. June dollar volume of $473 million is down 3% over June 2017…
WINNIPEG - May sales were down from the best May and month on record in 2017 when close to 1,700 transactions were processed on WinnipegREALTORS® MLS®. The 1,510 sales recorded in May 2018 decreased 11% from the same month last year and are down 4% from May’s 5-year average sales numbers and 1% from the 10-year average. Dollar volume of $458.4 million decreased 8% from May 2017. New listings coming on the market in May decreased less than 2% while inventory at the end of the month increased 3% to 5,103 listings. When broken down into the two main property types of…
WINNIPEG - April sales began to take off like our Winnipeg Jets. Sales of 1,283 were more spring-like in numbers as only down 1% from last April and up nearly 2% over the 10-year average for this month. New listings of 2,621 in April increased 7% from the same month last year while the existing inventory at month end of 4,550 was up nearly 4% over 2017. MLS® dollar volume of nearly $390 million just edged out last year’s total. Year-to-date dollar volume climbed over $1 billion and is less than 5% off last year’s first four month total dollar volume.…
WININIPEG – Sales in March resulted in a slower first quarter especially in comparison to the two best years on record in 2016 and 2017. Sales of 2,228 are down over 8% from the first 3 months in 2017, and 4% over the 10-year average. March sales of 974 decreased 12% from March 2017, and 5% over the 10-year average. March new listings at just under 2,100 were down to a lesser extent at 5%. Current inventory of MLS® listings going into the second quarter is almost identical to last year. It sits around 3,900 listings with a modest percentage…
WINNIPEG - It is often said that Winnipeg’s real estate market is steady and stable. January exemplified this description by delivering a repeat performance from January 2017. It was uncannily similar in total MLS® sales, active and current listings, and dollar volume. MLS® sales of 571 and dollar volume of $156 million are both up less than 2% over January 2017. The inventory of 3,096 listings is almost identical to 2017 and current listings entered onto MLS® in January were just under 1,500 in comparison to 1,502 last year. “Too early to tell how much impact the new stress test…
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February sales down 11% WINNIPEG - It was an off month for WinnipegREALTORS® as February sales of 683 declined 11% from the same month last year and 10% over the 10-year average for February. Year-to-date sales of 1,250 are 5% off the pace set in 2017 when there were 1,327 sales. Year-to-date dollar volume worth $352 million in real estate transactions is also down 5% from the same period last year. When comparing MLS® listings to last year, overall supply is not the issue as the inventory at the end of February of just under 3,400 is equivalent to…
Solid December closes out a successful year of MLS® sales activity WINNIPEG - A solid result in December of 635 MLS® unit sales and a dollar volume over $179 million capped off a successful year in 2017. Actual percentage differences in comparison to December 2016 were relatively modest but positive with sales up 3%, dollar volume rising 7% and listings increasing 8%. All MLS® property types performed exceptionally well in December with only residential-detached experiencing a drop of 8% in sales. A total MLS® inventory of 2,851 listings is available for sale as 2018 begins. 2017 finished up strong with…
WINNIPEG - If you are going to duplicate a month’s sales activity, do it when it is a good one and that was the case in November. MLS®sales of 878 units in November were one sale higher than November 2016 and 4% above the 10-year average for this month. Only once in 2015 did November sales edge over 900, so not a big difference in sales. A solid performance in November and year-to-date sales of 12,890 ensures 2017 will be no worse than second highest on record. 2016 was the best year ever with over 13,600 sales. “A good rebound…
WINNIPEG - October salesdecreased 10% from October 2016 and were off 4% from the 10-year October average. The drop in sales activity was largely predominant in the residential-detached and condominium property types selling for under $300,000. The sales decrease in part, was the result of being up against increased sales activity in early October 2016 because home buyers then wanted to maximize their buying power before the October 17th stress test came into effect on insured mortgages. The new qualification requirement meant applicants had to qualify for the five- year fixed term Bank of Canada rate of 4.64 per cent. …