Canadian Home Sales in Manitoba and across Canada Poised for a Strong Finish in 2025
October 21, 2025 | Posted by: Shirl Funk
The Canadian housing market is showing signs of renewed strength as we approach the end of 2025. According to the latest report from the Canadian Real Estate Association, home sales across the country are on track for a strong finish to the year, buoyed by lower borrowing costs, improving consumer confidence, and a more balanced market. If you are thinking about your next step in Manitoba, start with a quick mortgage pre-approval to understand your price range with confidence.
A Shift Toward Market Stability
After several years of adjustment, the national housing market appears to be finding its footing again. CREA data shows that both home sales and average prices have been steadily improving in many markets. This rebound comes as buyers and sellers regain confidence, encouraged by recent interest rate reductions and a more predictable lending environment. If you are a first time buyer in Winnipeg or anywhere in Manitoba, our quick guide for first time home buyers can help you plan your budget, documents, and timelines.
While the pace of growth varies by region, markets that saw the sharpest slowdowns during the higher rate period, like Ontario and British Columbia, are now seeing modest recovery. More affordable provinces, including Manitoba and its neighbours, continue to attract steady demand from first time buyers and relocating families. If a move is on your radar, explore your options for a smooth home purchase mortgage.
Interest Rate Cuts Helping Buyers Re-Enter the Market
One of the key drivers behind the recent uptick in activity is the Bank of Canada’s gradual rate reductions in 2025. Lower rates improve affordability for many households that had been priced out in previous years. Lower payments can help you stretch your budget a little further and renew your homeownership goals. To lock in a number you can shop with, get a fast pre-approval and a rate hold.
For existing homeowners, renewing or refinancing at a lower rate can provide welcome relief after several years of rising costs. We are seeing more clients ask about payment strategy, amortization, and whether to switch lenders at renewal. If your term is coming due, review your options on our mortgage renewals page.
National Home Prices Showing Modest Gains
Recent figures indicate that the national average home price has edged upward in recent months. While values remain below prior peaks, stabilization is a positive sign for homeowners and the broader economy. This suggests a healthier phase where prices align more closely with fundamentals like income growth and supply. Balanced conditions also give buyers more time and choice, which can lead to better conditional offers and a smoother closing experience. If your credit file needs a little work, our bad or poor credit mortgages page outlines practical steps to qualify.
Supply Levels Still a Key Factor
Despite stronger sales, Canada still faces a structural shortage of housing supply. New listings have increased, however available homes remain below long term averages in many cities. Population growth and continued immigration add pressure to supply, which is why new construction and infill development will matter in 2026 and beyond. If you are exploring building or buying new, we can help align your approval with construction timelines and discuss private or alternative mortgage options when needed.
What This Means for Buyers and Homeowners
For Manitobans thinking about buying, selling, or refinancing, today’s market presents a window of opportunity. Lower interest rates, stable prices, and growing confidence are creating favourable conditions. Whether you are entering the market, moving up, or looking at an investment property, understanding your financing options is essential. See our guide to investment property mortgages for tips on down payment and rental offset rules.
Working with an experienced mortgage broker can help you navigate the landscape, compare lenders, and find a solution that fits your budget and long term goals. We can help with pre-approvals, rate holds, refinancing, renewals, and options for self employed clients. You can also review today’s lending rates and run quick numbers with our calculators.
Looking Ahead to 2026
As forecasts point to continued stability into early 2026, many experts believe the market is transitioning toward a more sustainable environment. Challenges remain around supply and affordability, however the outlook is more optimistic than in recent years. If you have been waiting for a better moment to act, now is a great time to review your options, especially if you want to consolidate debt or tap home equity for improvements.
Sources
Data and insights in this article reference the October 2025 update from the Canadian Real Estate Association.
Manitoba Mortgage FAQs, Last 90 Days
1) Do I need a pre approval before I start viewing homes in Winnipeg
Yes, a pre approval confirms a budget and protects you if rates move. Start here, Mortgage Pre Approvals.
2) What down payment do first time buyers in Manitoba typically need
As low as 5 percent on eligible purchases with mortgage default insurance. Learn more on our First Time Buyers page.
3) I am self employed, how do I qualify for a mortgage
Lenders can use business financials, NOAs, or stated income programs when justified. See Self Employed Mortgages.
4) Are rates actually lower now and how do I compare them
Yes, rate trends have improved in 2025, compare options and terms on our Rates page and ask us about rate holds.
5) Can I switch lenders at renewal to get a better deal
Often yes, subject to qualification and property details. Start here, Mortgage Renewals.
6) Will Winnipeg property taxes affect my approval
Yes, taxes impact debt service ratios and approvals. Review our explainer and tips in this blog post, Winnipeg Property Taxes.
7) My credit is bruised, can I still get approved
Possibly, with stronger equity, co borrowers, or alternative lending. See Bad or Poor Credit Mortgages and Private Mortgages.
8) How much can I borrow for an investment property
Rental offset rules vary by lender and property type. Start with our Investment Property Mortgages guide.
9) Should I refinance to lower my payment or to consolidate debt
Both are options if the numbers work. Compare scenarios on Mortgage Refinancing and Debt Consolidation.
10) What if I need a second mortgage to bridge a short term need
There are solutions for equity take out, renovations, or repairs. See Second and Third Mortgages.