Even though it would be fantastic, we don’t have a crystal ball. We can’t tell you exactly what the Ottawa market will look like in 3, 6 or 9 months from now, but we certainly can help you make the right decisions for you, based on the information we do have.
One of the information sources is the 2018 Housing Market Outlook published by RE/MAX. Since a lot of our clients have mentioned it would be useful, here’s a summary:
Expected trends:
- The average residential sale price is expected to increase to approximately 3.5%
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The LRT is expected to increase demand close to planned station stops
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The strong local economy will contribute to a positive overall real estate market outlook for 2018
- The new mortgage stress test is expected to decreased buyer purchasing power and result in slow activity during the first few months of 2018
2018 Ottawa Housing Market Outlook