Ottawa home prices increase 2.7 per cent in March

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Home sales and prices inched up in March, as Ottawa's real estate market showed 'early signs of a buzzing spring market,' according to a new report.

In this file photo, a new home is shown for sale in a housing development in Ottawa on Tuesday, July 14, 2020. THE CANADIAN PRESS/Sean KilpatrickHome sales and prices inched up in March, as Ottawa's real estate market showed "early signs of a buzzing spring market," according to a new report.

"The increases in new and active listings indicate that sellers are feeling more confident, boosted by the rise in showing activity. Buyers, however, aren’t acting as quickly as they perhaps should be — likely because affordability and supply are still roadblocks." "That’s creating pressure from multiple angles on the mid-range property market, which we know is tight to begin with in Ottawa."Canada's unemployment rate rises to 6.1 per cent

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Toronto Home Sales Decline in March, but Average Home Price RisesThe Toronto Regional Real Estate Board reports a 4.5% decrease in home sales in March compared to last year, but the average home price increased by 1.3% year-over-year. The increase in new listings is attributed to homeowners anticipating an improvement in market conditions.
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