The real estate slowdown continued in Ottawa in January, with home sales dropping for the 11th straight month.
Home sales were down 35 per cent year-over-year last month, according to the Ottawa Real Estate Board.“January’s marked slow down in unit sales over 2022 indicates potential home buyers are taking their time,” OREB President Ken Dekker said in a news release. “While last month saw the culmination of the succession of interest rate hikes announced by the Bank of Canada, affordability remains a factor.Prices are also down year-over-year.
Condo prices fell five per cent, but he said those numbers tend to fluctuate more because it's a smaller data set.
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