Winnipeg Housing Market Outlook 2018
The Winnipeg housing market demand is high due to strong consumer confidence prompted by healthy local economy and continued low interest rates.
The OSFI mortgage qualification regulations that come into effect January 1, 2018 prompted some buyers to enter the market last fall and are and are expected to result in a slowing of demand this year as buyers adjust.
Purchasing power of potential move-up buyers looking for upper-end properties is also expected to be reduced in 2018 as a result of the new stress test.
Local Market Remains Stable and Resilient for July 2018
July sales activity decreased 4% from July 2017 and was off 2% from the 5 year average for this month.
The 1,006 residential-detached sales in July decreased 2% from the 5 year average of 1,030 sales while the 176 condominium sales are just short of the 5 year average of 180 sales.
Our home sale prices as well show a high degree of consistency and this is in part attributable to an economy that is one of the most diversified and stable in Canada.