Canada Mortgage and Housing Corporation has long been the most accurate predictor of the Ottawa real estate market and here is their forecast for 2013. CMHC forecasts 14,000 sales on the Ottawa Real Estate Board in 2013 compared to 14,308 in 2012. They expect an average selling price of $356,000 compared to $351,792 in 2012. CMHC discusses the following reasons for the forecast. The unemployment rate in Ottawa is lower than the Provincial and National averages. The five year mortgage rate is 2.99%. Net migration to the region is forecast at 9,000 in 2013. New mortgage rules introduced in July 2012 will moderate sales slightly in the short run.
