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Resales rebound in housing market in October

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Winnipeg’s resale-homes market rebounded from a sluggish September to post its second best October on record for unit sales and its best for dollar volume of sales.

Winnipeg Realtors Association numbers released today show 1,118 properties sold last month through the local Multiple Listing Service, which covers Winnipeg and a variety of other southern Manitoba communities.

That was a four per cent increase from the 1,076 properties that changed hands in October of last year, but fell short of the October record of 1,201 units set in 2007.

However, last month’s surge in sales activity did set a new October record for dollar volume of sales, the association said, at $281.8 million. That was a 10 per cent improvement from a year earlier, when $256.9 million worth of properties were sold.

The strong showing came on the heels of a 14 per cent drop in unit sales and a 10 per cent decline in dollar volumes in September.

It left year-to-date sales running less than one per cent ahead of last year’s pace after the first 10 months — 11,554 versus 11,486 — and the dollar volume up six per cent — $2.83 billion versus $2.67 billion.

murray.mcneill@freepress.mb.ca

 

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