Predictions For The Ottawa Real Estate Market Fall 2022
Radical changes in the real estate market - here’s my predictions for the fall of 2022
We are already at a 4 year low for new listings; we predict that this selection in listings will get slimmer
Ease of borrowing money will get tougher and there will be less mortgage companies participating
Longer mortgage terms such as 30 year amortization will be the innovator for home loans
Affordability will be the bear!!!!
The number of buyer that’s can qualify will be reduced
The move for quick closings & larger deposits will be key as we Shift back to more normal buyer demand as we have seen in the past year
Offers w/conditions will continue to see an increase
Investors will return to the market looking for deals in November/December with their eye on desperate sellers - happens every year
Industry is moving so quickly!!
Price discovering is happening and new lower prince point will become normal - we are back to 2021 pricing
Price improvements will continue for those that haven’t caught on yet.
There’s no playbook for what happens tomorrow - these are just predictions
You need to work with an innovative REALTOR® to win in this market as we are at the Hamre Real Estate Team
This downturn won’t last forever. No matter what type of market we’re in - we are here for YOU
Inspiring dreams is what we do.