Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 25, 2013 08:15 ET

Ottawa Housing Market Will Soften in 2013

OTTAWA, ONTARIO--(Marketwired - June 25, 2013) - According to Canada Mortgage and Housing Corporation's (CMHC) Housing Market Outlook, Spring 2013 edition for the Ottawa Census Metropolitan Area (CMA), new housing starts will trend lower this year with multiple-family homes leading the decline. Single-detached home construction will remain below historical averages over the forecast horizon, as the more affordable multi-family dwellings continue to cement their market share. Nonetheless, by 2014, single-detached starts will begin to recover some lost ground.

"Sales are expected to remain on a moderating trend this year as modest employment growth weigh on first-time homebuyer demand. Nonetheless, the gradual improvement in job and income growth into 2014 should support housing demand in Ottawa," said Sandra Pérez Torres, CMHC's Senior Market Analyst.

MLS® sales in the Ottawa CMA will soften this year, while prices are set to track inflation. By 2014, both sales and prices will firm further. The resale market will remain in the cooler range of a balanced market this year as listings are expected to grow at a faster pace than sales.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

(Ce document est aussi disponible en français)

Contact Information

  • Sandra Pérez Torres, Senior Market Analyst

    National Media Contact:
    Beth Bailey, Consultant, Communications and Marketing
    (416) 218-3355