Firm says it now expects the aggregate price of a home in Ottawa will be up 10 per cent in the fourth quarter of 2022 compared with a year earlier, down from its previous forecast of 13 per cent.
Realtors and lawyers say they have noticed buyers looking at what options they have to get out of a purchase because conditions have shifted dramatically from the previous highs and frenzied pace.
Firm is now predicting the aggregate price of a home in Ottawa will jump 13 per cent in the fourth quarter of 2022 compared with a year earlier, up from its earlier forecast of nine per cent.
Brokerage says region’s stable economy, an influx of buyers from the GTA and surging demand for roomier properties in the COVID-19 era will keep market humming.
The aggregate price of a house in Ottawa rose 11.7 per cent in the second quarter of 2020 compared with a year earlier, Royal LePage says, but some relief could be in sight.
Aggregate home prices continue to rise in the nation’s capital as supply issues relegate some prospective buyers to the rental market
Ottawa’s aggregate home price surpassed Calgary’s for the first time ever in the first quarter of 2019 – making the capital the fourth-most-expensive housing market in the country, Royal