RESALE-home prices in Manitoba will increase at the fastest pace in the country over the next two years, while sales across Canada will also be better than previously thought, according to the latest forecast from the Canadian Real Estate Association.
CREA said Monday it expects the average selling price of a home sold through the local Multiple Listing Service (MLS) to climb by 3.5 per cent to $242,700 this year and by a further three per cent to $250,000 in 2013.
While that’s slower than the 5.9 per cent growth Manitoba experienced in 2011, it will still easily outpace Canada’s price performance over the same period, CREA said. It’s predicting the national average selling price will decline by 1.1 per cent to $359,100 this year, before rebounding 0.9 per cent to $362,300 in 2013.
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