WinnipegREALTORS® Press Release; February 10, 2012

WINNIPEG – With the exception of 1997 when January sales were at 660, January 2012 sales activity ranks among the best results for all other Januarys as none have even threatened the 600 sales level. Dollar volume is another story altogether as despite sales being in a virtual deadlock with last January, there was still nearly an additional $8 million worth of sales activity. As a result, we see a replay of previous years where even if sales are not up to the previous year level, the dollar volume sets a new monthly record.

Interestingly enough, some of the real star performers of last year relate to property type, dropped off in the first month this year in comparison to activity the same month a year ago. Sales of single-attached were off 25% while condominiums dropped 16%. And vacant lots and mobile homes both decreased 8%. The saving grace was the 4% increase in single family homes which accounts for the lion...

From Winnipeg Free Press Publication, January 28, 2012

OTTAWA — Canada will likely avoid a crash or serious correction in its “somewhat pricey” housing market, with the possible exception of Vancouver, says a new paper from the Bank of Montreal.

The analysis by BMO economists suggests alarms about Canada’s housing market by international observers, from the International Monetary Fund to The Economist magazine, are exaggerated or simplistic.

“The main takeaway is that the national housing market appears somewhat pricey but is far removed from a bubble,” said economists Sherry Cooper and Sal Guatieri in the report released Monday.

“In our view, the (market) is more like a balloon than a bubble. While bubbles always burst, a balloon often deflates slowly in the absence of a ‘pin.’ ” The report said house sales remain strong in Alberta and Saskatchewan and in major urban centres such as Toronto, Montreal,...

From Winnipeg Free Press Publication, January 28, 2012

By Todd Lewys

By now, pretty much everyone who calls Winnipeg home knows it’s one of the hottest real estate markets in the country.

Here’s a statistic — courtesy of WinnipegRealtors’ market analyst and director of public affairs, Peter Squire — that puts just how hot the market is into perspective.

“It took us 99 years to reach onebillion dollars in sales in 2002,” he said at WinnipegREALTORS’ sixth annual forecast breakfast Jan. 25. “Nine years later, this milestone has tripled. Winnipeg, thanks to an increasingly hot real estate market over the past nine years, is now a three-billion-dollar MLS market.”

A banner 2011 — marred only by slow sales in April, the result of flooding — reinforced the fact the Winnipeg market isn’t about to slow down any time soon.

“Overall, we were just 14 sales shy of topping our best year, 2007. Sales volume...