The COVID-19 pandemic is not keeping us out of the real estate market – this in a survey commissioned by the Manitoba Real Estate Association and WinnipegREALTORS®.
MREA President Glen Tosh says “The survey results tell us the majority of Manitobans have confidence in the real estate market despite the COVID-19 pandemic. These findings reflect a significant rebound in housing market activity we have seen in Manitoba beginning in May, with momentum that has continued in June.”
According to the survey, 84% of Manitobans say the pandemic has no bearing on their homebuying intentions, only 11% say they are now less likely to purchase a home, and a small number (4%) say they are more likely to buy a home now.
“Confidence in the market and the increased level of activity is testament to the success Manitoba has had to date in preventing the spread of COVID-19,” said WinnipegREALTORS® President Catherine Schellenberg. “The Manitoba and Winnipeg real estate markets were in very good shape prior to COVID-19 and the numbers now show a recovery is well underway.”
With the easing of COVID-19 restrictions in May, there was a notable increase in residential sales activity in Manitoba – up nearly 70% compared to April of this year. In fact, the total number of sales in the province in May was only 21% lower compared to May 2019, which is the highest single month of sales on record.
Moreover, in WinnipegREALTORS® mid-month June report, we are now seeing sales gains compared to the same period last year. The 16% increase in MLS® sales is in line with similar percentage increases to what occurred in the first two and one-half months this year prior to the onset of COVID-19.
“The real estate market in Brandon has certainly rebounded as the survey indicates, said Brandon Area REALTORS® President, Mandy King. “As their businesses ramp back up, REALTORS® in the Brandon area continue to adhere to safe business practices in alignment with the Manitoba Government’s health protocols.”
From June 2nd to 11th, a random and representative sampling of 1,000 adults residing in Manitoba was conducted by Probe Research on behalf of MREA and WinnipegREALTORS®.
The report is available at the link below.
