Ottawa’s MLS® Market Making Headway
The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 1,059 units in November 2024 — a slight dip down from the 1,179 units sold the month previous.
The Canada Mortgage and Housing Corporation (CMHC) mortgage loan insurance program is a government-backed initiative that allows homebuyers to purchase properties with less than a 20 per cent down payment.
Initially designed to help Canadians without significant savings enter the housing market, CMHC insurance has since become the single greatest catalyst of real estate demand in the federal government’s arsenal.
The recent announcement of expanded 30-year amortization and an increased insured mortgage cap in Ottawa has stirred considerable discussion in the real estate market. Set to take effect on December 15, 2024, these changes promise to reshape the landscape for potential homebuyers. Let’s examine the potential impacts of these new mortgage rules.
Consumer Confidence Cautiously on the Rise in Ottawa Resale Market
The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 1,179 units in October 2024 — an increase over the 1,047 units sold last month.
Ottawa’s MLS® Home Sales Healthy Amid a Shifting Market
The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 1,047 units in September 2024. This was an 11.4% increase from September 2023.
Ottawa’s Hot Summer Market Expected to Extend into Fall
The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 1,100 units in August 2024. This was a 10.2% increase from August 2023.