WinnipegREALTORS® Press Release, April 9, 2018

WINNIPEG - Sales in March resulted in a slower first quarter especially in comparison to the two best years on record in 2016 and 2017. Sales of 2,228 are down over 8% from the first 3 months in 2017, and 4% over the 10-year average. March sales of 974 decreased 12% from March 2017, and 5% over the 10-year average. March new listings at just under 2,100 were down to a lesser extent at 5%.

Current inventory of MLS® listings going into the second quarter is almost identical to last year. It sits around 3,900 listings with a modest percentage gain of residential-detached listings available while condominium listings slipped slightly.

It is fair to say while market fundamentals are firmly in place in the local market, new mortgage rules combined with higher mortgage rates in the last year have made it more difficult for some buyers to purchase their desired property. This not only applies to first-time buyers, but to existing home...