The news is good for real estate in Ottawa this summer. To quote Rick Snell (President of the Ottawa Real Estate Board) "This is the third consecutive record setting month this year and the fourth month where sales exceeded the previous year's sales. Year-to-date sales as of the end of June are up one per cent over the same time period in 2008. We have seen a strong recovery from the slow start to this year"
We are seeing bidding wars on homes. Many sellers decided to put their plans on hold earlier in the year which has caused a pent up demand for homes. I expect to see the market stay strong through the summer.