City's February Housing Stats Soften a Little

By McNeill, Murray | Winnipeg Free Press, March 9, 2013 | Go to article overview

City's February Housing Stats Soften a Little


McNeill, Murray, Winnipeg Free Press


WINNIPEG'S high-flying housing market encountered some turbulence last month, with double-digit declines in sales of existing homes and in single-family housing starts, according to two reports released Friday.

In its monthly report, the Winnipeg Realtors Association said there was an 11 per cent drop in the number of properties sold through the local Multiple Listing Service (MLS) -- 698 versus 781 for the same month in 2012.

And in its monthly housing-starts report, Canada Mortgage and Housing Corp. (CMHC) said there was a 14 per cent decline in the number of single-detached starts in the Winnipeg Census Metropolitan Area (CMA) -- 109 versus 127.

However, Manitoba Home Builders' Association president Mike Moore noted the number of multi-family starts, such as apartments and condominiums, were up nearly eightfold to 78 units from 10 in February 2012. That drove up total starts by 36 per cent to 187 units from 137.

"So it all depends on how you want to look at it," Moore said. "Single-family starts were down, but multis and total starts were up."

Although there are signs of a housing- market slowdown in Vancouver -- MLS sales there fell 29.4 per cent last month to their lowest February level since 2001 -- industry officials here maintain there's no clear evidence it's the case in Winnipeg.

Winnipeg Realtors president Richard Dettman said January this year was the second-best January on record for MLS sales in Winnipeg.

He also noted 35 per cent of detached homes sold last month went for more than list price, and the average number of days they were on the market in February was 27 -- two weeks less than in January and a week less than in February 2012.

Both are indications of strong demand and a healthy market, Dettman said.

Moore and Dianne Himbeault, CMHC's senior market analyst for Manitoba, noted that while single-family starts are down from a year ago, 2012 was the best year since 1988 for housing starts in the Winnipeg CMA.

"So the trend is coming down a little bit, but we're still coming off a very strong year," Himbeault said.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

City's February Housing Stats Soften a Little
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.