Slower May

According to the Ottawa Real Estate Board, May sales are down nearly 14%. Most people are suggesting that the cool down was due to the HST and some changes in the mortgage rates. This is not unexpected as I had predicted this before. It was only a matter of time before activity cooled down in Ottawa from record high levels.

As a side note, I signed a lease on Saturday to move. I wanted a one bedroom to live in by myself and I didn't really want to buy a condo downtown. I think they are overpriced. I'm hoping that prices may cool off in the next year, and I might consider purchasing then.