Winnipeg Free Press - PRINT EDITION

Home builders downplay stall in new-home prices

  • Print

A prolonged run-up in new-home prices in Winnipeg has come to an end, new Statistics Canada figures suggest.

The federal agency said the new housing price index for Winnipeg remained unchanged for the second month in a row in December after rising in each of the previous 10 months of 2008.

Related Items

It was part of a broadly based trend that saw new-home prices remain flat in 11 of the 21 Canadian cities surveyed in December. Saskatoon, Calgary, Edmonton and Victoria even saw prices decline from November to December. That helped push down Canada's new housing price index by 0.1 per cent, marking the third consecutive month that prices fell nationally.

And even though December's index in Winnipeg was 5.8 per cent higher than it was a year earlier, that increase paled in comparison to the double-digit, year-over-year gains homebuyers were seeing during the first half of 2008.

Manitoba Home Builders Association president Michael Moore confirmed in an interview that new-home prices have stabilized in the wake of a slowing national economy and softer demand.

But Moore maintained the decline in new-home sales here had more to do with the bitterly cold weather in December and January.

"It was 40 below... so during that time period it was pretty quiet," Moore said.

"But it's coming along," he said. Nobody is panicking. Nobody is holding a fire sale."

He said there have even been signs in the last two weeks that sales may soon be on the upswing again. Three different homebuilders he spoke to earlier this week said they noticed a spike in the number of people coming through their show homes over the past two weekends.

He said the Spring Parade of Homes, which is being held from March 7 to 22, will likely give homebuilders a better idea of what they can expect in 2009.

A record-high 103 show homes are being featured this year.

murray.mcneill@freepress.mb.ca

Republished from the Winnipeg Free Press print edition February 12, 2009 B6

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Drew Willy on his team's win over Alouettes

View more like this

Photo Store Gallery

  • Geese take cover in long grass in the Tuxedo Business Park near Route 90 Wednesday- Day 28– June 27, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • BORIS MINKEVICH / WINNIPEG FREE PRESS  070527 The 21st Annual Teddy Bears' Picnic at Assiniboine Park. The Orlan Ukrainian Dancers perform on stage.

View More Gallery Photos

Poll

Does Canada need a national inquiry into the disproportionately high number of missing and murdered aboriginal women?

View Results

View Related Story

Ads by Google