Ottawa real estate: How the pandemic disrupted Ottawa’s typical home-buying cycles

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OTTAWA —
Historically, you could describe Ottawa’s real estate market the way you’d like to describe a good friend or life partner: highly stable, consistent and predictable.

But since 2020 was extraordinarily unpredictable and unprecedented, disrupting the typical, local real estate cycles and trends, it’s been difficult to predict what the real estate market would be like in 2021.

Realtor Taylor Bennett is a regular guest on CTV News at Noon.

With fewer than seven weeks left until 2022, Taylor Bennett analyzes the pre-pandemic real estate trends that have returned and the new trends are here to stay.

Market update

“Primarily driven by the historically low interest rates, the severe lack of inventory, and the high average household income levels, the real estate market here has seen double-digit growth in prices for almost two years, and October was no different. While we have seen the growth rate slowly decrease…

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