Ottawa’s housing market lost momentum in August. Sales declined sharply both year over year and from the previous month, reversing July’s incremental improvement and widening the year-to-date gap compared with 2025.

“Prices remained relatively steady despite the pullback in sales, which tells us this is not a simple story of the market moving uniformly in one direction,” said OREB President Tami Eades. “Buyers are seeing less competitive conditions and have more time to make decisions, while sellers are facing more competition and may need to be thoughtful about pricing and positioning their homes for the current market. One month does not establish a trend, but the shift in sales and inventory is something we’ll be watching closely as we head into the fall market.”