A vast majority of Manitobans are not letting the COVID-19 pandemic affect their plans to enter the real estate market, according to a recent public opinion survey commissioned by the Manitoba Real Estate Association (MREA) and WinnipegREALTORS.
“The survey results tell us the majority of Manitobans have confidence in the real estate market despite the COVID-19 pandemic,” said MREA President Glen Tosh in a press release.“ 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, only one-in-10 Manitobans (11%) say they are now less likely to purchase a home because of COVID-19, with the vast majority (84%) saying the pandemic has no bearing on their home-buying intentions and a small number (4%) saying 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 per cent 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 2 to 11, a random and representative sampling of 1,000 adults residing in Manitoba was conducted by Probe Research on behalf of MREA and WinnipegREALTORS. With a sample of 1,000, the results are considered within ± 3.1 percentage points of what they would have been if the entire adult population of Manitoba had been surveyed.
One of the largest real estate boards in Canada, WinnipegREALTORS is a professional Association representing over 1,980 realtors and other real estate industry related professions within Winnipeg and its surrounding region. Headquartered in Winnipeg, Manitoba Real Estate Association represents over 2,100 Manitoba real estate professionals.
