All Major Housing Markets Slumping – Except One

As housing markets across the nation fall into the slump phase of the real estate cycle, one city is holding on, says the Real Estate Investment Network (REIN) in its ‘COVID-19 Special Edition: Real Estate Cycle Update’ report. The report says all major real estate markets in British Columbia, Alberta, and Ontario are on a steady decline due to the economic impact of the pandemic shutdown and restriction measures except for one – Ottawa, ON. REIN says this exception may be because Ottawa is home to Canada’s federal government and is insulated to some extent to the massive pandemic-related joblessness impacting the country. It also says that while the slump is generally characterized as market slowdown, it can also be an excellent time for investors to take advantage of the opportunities that are bound to hit the market sooner or later.