The number of residential properties sold has decreased compared to August 2011, while the average price has slightly increased. The new mortgage rules came into effect in early July, and this could be an explanation for the decrease in properties sold. Potential home buyers may be waiting to save a bit more money before purchasing a property. This summer, we also experienced exceptionally hot weather, which may be a factor in the market slow down. This August’s sales are still in line with the five-year average, so the Ottawa market remains steady despite a small dip in units sold.

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