Housing prices in Ottawa will rise five per cent in 2022, Remax estimates

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 Remax 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.