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Podcast: Winnipeg and Rural Manitoba Real Estate Advice Podcast
Episode: Morgage rates going up! Will that effect home prices? March 3,2022
Description: With bank of Canada increasing prime rate by.25 March 2 2022. Â Will that effect housing prices?
Short answer is no.Â
Buyers that are pre approved are currently locked into a rate and at .25 this is a very minimal increase.Â
We have a serious inventory shortage. When you look at data it all make sense of why housing price just keep going up.Â
Jan 1 2020 there were approximately 2000 single family detached homes on the market. Jan 1 2021 down to around 900 and this year Jan 1 2022 only around 650. It’s simply supply and demand.Â
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