If you have been watching the real estate market in Winnipeg, you have probably noticed that they have dropped considerably in recent months. The first indication that the Winnipeg house prices are low comes from the fact that the prices for single-family detached homes are at an all-time low. What is even more interesting is that this decline in pricing has occurred despite low-interest record rates. It seems that some of the problems associated with mortgage rates have originated from higher demand rather than lower supply.
There are two major factors that have caused this decline in the real estate market in Winnipeg. The first is a lack of rental units, which has led to owners selling their properties and then renting out their spaces. The second is an increase in the number of new homes built in the past few years. Both of these factors have reduced the demand for residential real estate, leading to a significant drop in prices.