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Rise in house prices expected to continue

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House prices will continue to climb this year but unit sales could drop off a bit, according to the latest forecast from the the Winnipeg Realtors Association.

The association's residential market analyst told about 300 people attending its annual forecaast breakfast today that he expects to see a a two to four per cent increase in home prices this year in Winnipeg.

And Peter Squire said he expects unit sales to either hold steady at around 13,000 units, or possibly dip by about two per cent.

"I prefer to lean more towards the zero than the minus," he said. "Overall, I think it's still a really good outlook."

But there's also a danger that last year's tightening of federal mortgage insurance rules could force some first-time and move-up buyers to delay their purchase, he said. And that could result in fewer homes being sold.

murray.mcneill@freepress.ca

 

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