Ottawa’s home builders say the city’s modest uptick in sales last month could be an “early sign of stabilization” in the market, which has seen activity plummet since 2023.
The Greater Ottawa Home Builders’ Association’s (GOHBA) monthly report shows there were 278 sales recorded in February, up 9 per cent from the previous month and a 6.5 per cent improvement from February 2025.
However, year-to-date sales are down 6 per cent compared to 2025, signalling
“market conditions are still adjusting,” according to Jason Burggraaf, GOHBA’s executive director.
“Hopefully, recent clarity on the federal tax rebate will drive more sales in the last week of March and into April,” he said in a statement, referencing the Liberals’ bill to remove the GST on new-builds up to $1 million for first-time homebuyers becoming law earlier this month.
Geographically, the city’s south-end was the best performer in February, accounting for 46 per cent of all new home sales. The west end was next at 33, followed by the east with 19 per cent.
Central Ottawa, which offers more condominiums than other sections of the city, made up only 2 per cent of sales.
Reports have suggested sluggish condo pre-sales in the much larger Greater Toronto Area, depressing prices for existing inventory.
Similarly, condo apartments only made up 2 per cent of sales in Ottawa in February, while condo townhomes were responsible for 3 per cent.
Townhomes made up the lion’s share of sales, accounting for 54 per cent. Single-family homes made up 41 per cent.
Ottawa’s housing market has cooled since its pandemic heyday. While in 2023, year-to-date sales topped 1,200 by February, no year since has been higher than 567.
Sales for the first two months of 2026 total 533, the lowest since 2024, when interest rates shot up as the Bank of Canada sought to keep a lid on rising inflation.
