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Ears to the market
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WINNIPEG Due to the global COVID-19 pandemic, 2020 will definitely be remembered as a record-breaking year for a number of reasons, and for Manitoba, it brought record-high real estate sales in the Winnipeg area as people sought out more space. “2020 was a year where Manitobans were determined to make their home of utmost priority and that came in ways where it often meant more functional space and different amenities to satisfy their needs,” said Catherine Schellenberg, the outgoing 2020 president for WinnipegREALTORS in the release. According to a news release from WinnipegREALTORS, Winnipeg and its metropolitan region had a “remarkable” year, with seven consecutive months of new real estate highs from June to December.
Winnipeg Free Press
SHANNON VANRAES / WINNIPEG FREE PRESS FILES
Peter Squire, vice-president of market intelligence at WinnipegREALTORS, sees sales success continuing in the new year.
‘2020 was a banner year for business.”
‘2020 was a banner year for business.
That’s a perplexing statement for anyone to make, given the havoc throughout Canada’s economic landscape thanks to the COVID-19 pandemic. But there’s one industry that won’t tell you anything otherwise.
Even amid unparalleled lockdowns, extraordinary restrictions and hard-hitting job losses, the local real estate market is seeing its biggest boom in decades.
Across the country, from one month to the next, residential sales continue to break records upon records with demand so intense, it’s driving home prices higher than ever before and resulting in historic shortages to inventory.