Does anyone think the real estate market in manitoba, Canada will cool down and why is it so hot now?

Question

I am looking to buy a house in Winnipeg and I have now been out bid 4 times. I still don't understand why the listing price on a house is $120,000 and by the time we are done we are looking at $150,00 - $160,000. If you have any tips please help

Answer 1

It's hot because a lot of people have moved there to work in the oil industry. Since oil prices are very high, the prices probably won't fall back for some time.

Most of the housing market in the US and Canada are falling, but there are a few isolated places where it's still hot.