Manitoba·Audio

Heated housing market headed for cooldown?

The Winnipeg housing market continues to ride a hot streak, but some real estate agents are wondering how long it can last.
Winnipeg's real estate market continues to be one of the hottest in the country. (CBC)

The Winnipeg housing market continues to ride a hot streak, but some real estate agents are wondering how long it can last.

The story in Winnipeg for the past seven years has been characterized by houses selling in a matter of days, buyers lining up with multiple offers and no conditions attached.

"I said last year that I didn't think we could sustain this, that I thought it would be healthy if prices leveled out and we could regroup," Dave Mackenzie, a veteran real estate agent, said in an interview.

"But working with young buyers eager to find a house, there's still multiple offers on a lot of properties," he added. "People are still gung-ho to find a property and are prepared to pay over the asking price."

The bubble appears to have burst in Vancouver. In the last month, prices and sales have both declined.

Could the same thing happen here?

This week, Information Radio is examining Winnipeg's real estate market and asking the questions that preoccupy the minds of anyone thinking of buying a house here.

You can hear the full interview with Mackenzie by clicking on the audio player above.

On Tuesday, hear about a couple who sold their house and decided to rent because it made economic sense.

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