Housing prices in Ottawa will rise five per cent in 2022, Re/Max estimates
CTV
Ottawa's housing market is expected to remain a seller's market in the New Year, as supply levels remain a concern for the real estate market.
The Re/Max housing market outlook estimates housing prices in Ottawa will increase five per cent in 2022 to $679,915.
"Inventory levels have remained below two months since February 2019, leading to a seller's market. This is expected to continue in 2022," said the 2022 Canadian Housing Market Outlook Report.
"Supply is likely to increase slightly in 2022, but low levels are expected to remain a concern."
The report states housing prices increased 22 per cent in Ottawa in 2021 to $647,538. That's up from $529,649 in 2020.
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