Spring is a time of optimism, when we cast off winter’s gloomy grip and walk cheerfully into the warm sunshine. This renewal of energy is apparently being reflected in local housing sales for the beginning of 2019 in the Winnipeg METRO Region.
WINNIPEG – 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.
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.
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.
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...