Let's look at 3 things that might influence where the market will go.

1. Rising House Prices

Housing costs inflated by lower interest rates stimulating demand.  1st time homeowners savings plan, longer amortization period and higher CMHC insured mortgages. 

2. Tariff War

Will we have a recession, caused by American tariffs, thereby slowing down the overall economy.  A lower Canadian dollar will mean imported goods will cost more possibly raising inflation again. 

3. Conservative Federal Government

Election of a Conservative government in Canadian federal politics. To bring finances under control and balance the budget, they lay off a significant number of civil servants, the same way that the Steven Harper government and the Chrétien / Paul Martin government did. 

20 to 25% of Ottawa employees are government workers. They will stop buying and selling if there is job insecurity. 

ReMax Forecast 

ReMax anticipates Ottawa prices to increase by 2.5% and unit sales to increase by 5%. 

I think this is optimistic…but anything is possible. 

See past Real Estate Market Predictions over the years at our YouTube Channel