Latest News

Winnipeg Free Press - ONLINE EDITION

Resale-homes market expected to weather economic storm

By: Murray McNeill

3/12/2008 11:06 AM | Comments: 0

Winnipeg’s resale-homes market will weather the economic storm in 2009, with sales activity matching 2008 levels and selling prices increasing modestly, according to the latest national housing market forecast from RE/MAX.

The real estate firm predicts 12,900 homes will change hands next year in Winnipeg, which is the same number it’s forecasting for this year.

Related Items

Articles
- ReMax says house prices to drop five per cent by 2009 across Canada

And the average selling price will climb by two per cent to $212,000 from this year’s projected $207,882, it added.

The firm said it should be a similar story with most of the 22 Canadian cities included in its forecast. Most will see little or no change in unit sales and average selling prices in 2008.

The most notable exceptions will be Victoria and Kelowna, which are expected to experience double-digit declines in both unit sales and selling prices.

Nationally, unit sales and the average selling price are expected to remain unchanged at 440,000 properties and $300,000.

"The prognosis for housing activity in the first six to nine months of 2009 is somewhat static, given the continued volatility in financial markets and the threat of recession," the firm said. "But as stability returns to the financial sector, housing markets are expected to recover."

murray.mcneill@freepress.mb.ca

Rate this

We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

You can also register and/or login to the site and join the conversation by leaving a comment.

This article has not yet been rated.

Rate it yourself below by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

0 Comments

There are no comments at the moment. Be the first to post a comment below.

Post Your Comment

The Winnipeg Free Press does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comments, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

Special Coverage