Home sales in the Winnipeg region are set to be the best ever in 2016 as gains in November continued a strong trend.
Winnipeg Realtors says that there were 877 sales in November, just below the best ever for the month (900) last year. However, overall sales for this year are expected to surpass 2007 sales to become the association’s best ever.
While real estate agents in the region will be celebrating their highly successful year, Winnipeg Realtors president Stewart Elson says there may be changes in the new year.
“As we are at the tail end of the year we will have to look further ahead to 2017 before we can truly determine the impact of the new mortgage regulations on our market,” he said. “Although the marked divergence in residential-detached and condo sales in November may certainly be an indication of some first-time buyers having to choose a more affordable condo.”
Residential-detached or single family home transactions were down 7 per cent in November while condos increased 8 per cent.
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