Houses for sale in Ottawa

The national average home sale price will fall 2.2% in the remaining months of the year, according to a new report by RE/MAX Canada.

Soaring interest rates, sky-high inflation, global economic unrest and higher mortgage costs will continue to prevail between now and December, the real estate broker network indicated, with a softer housing market expected as a result.

The market has already witnessed a protracted cooldown since peaking in March, with national home prices and sales falling amid a series of interest rate hikes by the Bank of Canada and an ongoing cost-of-living crisis across the country.

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