Royal Lepage released its House Price Survey on April 13, 2023. Its headline reads: Canada’s real estate market: Buyers are back, but where is the inventory?
From a national perspective year-over-year home prices have decreased 9.2 per cent but quarter-over-quarter there is a rise of 2.8 per cent as buyers started to return to the market.
For Ottawa – the aggregate price of homes decreased by 10.3 per cent year-over-year, but quarter-over-quarter saw 0.8 per cent increase. By housing type: residential single family homes decreased by 12.2 per cent year-over-year to $831,600 and condominiums decreased by 11.2 per cent to $384,000. As has become standard practice when relating current statistics I like to bring in statistics from a few years for the figures from 2022 reflect an overheated market – and so any comparison to those figures will look bad.
