NEW: Ottawa home sales down for eighth straight month ottnews
It's the eighth month Ottawa saw a decrease in home sales from the year before, and the largest decline this year.
"The slowdown is compounded by Bank of Canada interest rate increases, which further exacerbates buyer hesitancy and weakens people's purchasing power – especially first-time homebuyers." "However, the ongoing speculation about where prices and interest rates are headed shakes consumer confidence and has made some prospective Buyers take a wait-and-see approach."
Home sales in Ottawa decreased 33 per cent in September, 27 per cent in August and 35 per cent in July.
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