Ottawa Home Prices Forecast to Rise 3.0%

For Late-Q4, a firm projected Ottawa’s aggregate home price ↑3% yearly, making the capital one of the markets still expected to post gains.
That Ottawa call remained part of a revised housing outlook released after weaker-than-expected Late-Q3 conditions prompted the firm to lower its broader year-end forecast.
The revision reflected economic uncertainty and concern that borrowing costs could move materially higher, factors that were keeping many would-be buyers on the sidelines.
The firm also said increased inventory was giving buyers greater negotiating power, even as overall confidence had not yet recovered enough for sustained sales momentum.
For now, Ottawa remained in the gain column for Late-Q4, even as the firm expected the broader housing market to stay subdued.