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June Home Sales Hold Steady as Market Stabilizes: MREA

July 19, 2022 10:16 AM | News

House For Sale

A sign advertises a new home for sale in Carleton Place, Ont., on March 17, 2015. (THE CANADIAN PRESS/Sean Kilpatrick)

WINNIPEG — Manitoba’s housing market saw sales jump in June while bucking the national trend of a minor decline.

The Manitoba Real Estate Association says June sales came in just below the 2,000 mark — up 5.4 percent month-over-month, while nation sales fell by 5.6 percent.

“Many markets in the country have softened in recent months due to the rising cost of borrowing, but the Manitoba market has maintained some momentum as sales activity has continued to increase month-over-month,” said MREA 2022-23 president Julie Friesen.

“However, while a new monthly record was set for total dollars, the average sale price in June declined on a month-over-month basis for the first time this year.”

Friesen added with a late spring season following months of depleted housing inventory, there’s now a rebound of new listings.

“June brought in the highest level of new listings in a single month since May 2019.”

Year-to-date, 8,649 sales are down 19 percent and 12,189 new listings are down 9.7 percent over the same period last year.