15°c Overcast
16°c Light rain
Winnipeg Free Press - ONLINE EDITION
Slowdown in city's resale-homes market is gaining momentum
Multiple Listing Service sales were down 14 per cent from a year earlier .
The final September numbers confirm what the preliminary ones were indicating earlier in the week — the slowdown in Winnipeg’s resale-homes market is gaining momentum.
The Winnipeg Realtors Association (WRA) said today that Multiple Listing Service sales were down 14 per cent from a year earlier — 1,040 units versus 1,214.
It was the third consecutive month of weakening sales activity, after declines of four per cent in August and two per cent in July.
WRA president Shirley Przybyl said the slowdown in sales has been even more prolonged and more dramatic in other Canadian cities, and industry officials there have blamed it on the federal government lowering the amortization period for federally-insured mortgages to 25 years from 30 years in July.
That has squeezed some first-times buyers out of the market in those cities, she said, causing sales to weaken.
But she stopped short of saying that is what’s happening here, as well.
"We will watch this closely as the year winds down to see if Winnipeg is starting to experience the same trend."
The drop in sales also led to a 10 per cent decline in the dollar volume of sales in September — $251 million versus $278 million in September 2011.
murray.mcneill@freepress.mb.ca
.
More Local
- Back to Top
- Return to Local
Poll
Most Popular Local
- MTS becomes takeover target
- Keeping the e-party going without the party-crashers
- Woman drove into river on purpose
- Overnight stabbings probed
- Teachers vote to donate $1.5M to human rights museum
- PST hike a 'difficult decision' but necessary, NDP official says
- Infamous, chronic pedophile declines to seek parole
- Premier defends PST hike at NDP convention
- Doctor charged with sexually assaulting teen at HSC
- Several held in gun sighting
- Man dies after being pulled from vehicle submerged in Winnipeg retention pond
- Flood money paid for CEO's romantic trip
- Crash claims two young women, RCMP say
- Developers to unveil plans for bold downtown tower
- Woman drove into river on purpose
- Police identify slaying victims
- Apple trick on Ellen falls short for city woman
- City's first urban reserve born
- The end of the credit card?
- 2 dead in crash near Portage la Prairie
- Hundreds pitch in to dig out houses damaged, destroyed by Ochre Beach ice floe
- A child-custody catastrophe
- Charleswood deaths being investigated as domestic incident
- Man charged, victims identified in double homicide
- Co-worker 'sick' today? Maybe it's the $17M flu
- Man dies after being pulled from vehicle submerged in Winnipeg retention pond
- '2 minutes after I read the winning numbers, I retired': Winnipeg lotto winner
- Flood money paid for CEO's romantic trip
- Parents, community relieved and elated as missing boy found safe
- No threat from bag found at Winnipeg Square
- Unjust justice: Still no aboriginal court in Manitoba
- MTS becomes takeover target
- SCU pulls Bill 18 petition
- Teachers vote to donate $1.5M to human rights museum
- Keeping the e-party going without the party-crashers
- City's first urban reserve born
- Walk about among 'roos at zoo, mate
- Former CEO 'disappointed' Allstream leaves Manitoba
- Overnight stabbings probed
- You can bet the farm on housebarns
- Developers to unveil plans for bold downtown tower
- Fishing for fashion
- City's first urban reserve born
- Famous city grocer loved job, customers
- Core grocer a challenge: expert
- Flood money paid for CEO's romantic trip
- Grocer Joe Cantor dies at 88
- City chiropractor guilty of beating, sexually assaulting ex-girlfriend
- First Nation celebrates groundbreaking on city's first urban reserve
- North End proud
- Hundreds pitch in to dig out houses damaged, destroyed by Ochre Beach ice floe
- Mental-health patients get own ER
- A child-custody catastrophe
- An uncommon phenomenon
- Steen invests $1M in family entertainment centre
- Developers to unveil plans for bold downtown tower
- Earls on Main going, but new one coming
- Province introduces changes to rules governing landlords, renters
- Crushing blow for amateur sport
- Boost same-sex curricula: union
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
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.