Home sales in Ottawa plummeted more than 60 per cent in the first two weeks of April compared with a year earlier, while a major realty firm is predicting prices will remain stagnant through the rest of 2020.
Builders in Ottawa continued to start new homes at a brisk pace in March while starts on the Gatineau side of the River fell significantly compared with a year earlier, CMHC says.
The COVID-19 pandemic appears to be slowing activity in Ottawa’s housing market, which seemed primed to continue surging in the first few months of the year