Winnipeg to buck national decline in home prices

Winnipeg’s resilient resale-homes market is expected to buck a national trend with a modest increase in average selling prices this year, according to the latest house prices forecast from Royal LePage Real Estate Services.The real estate firm predicts Winnipeg’s average selling price will climb by four per cent to $204,900 from a projected $197,000 in 2008. Canada’s average selling price, on the other hand, is expected to fall by three per cent to $295,000 from a projected $304,000.Royal Lepage also predicts Winnipeg will see one of the smallest declines in unit sales among the country’s nine major cities. It says sales here are expected to fall by one per cent to 11,780 homes from 11,900 in 2008.That compares to a projected national decline of 3.5 per cent (416,000 compared to 431,000).“Looking ahead, the economic future looks bright for Winnipeg,” says John Froese, a broker with Royal LePage Prime Real Estate in Winnipeg.“As employment rates and population figures increase, consumer confidence is expected to rebound from where it was in the last quarter of 2008,” Froese added. “In turn, Winnipeg’s real estate market is anticipated to spring upwards as well