(Source: The Ottawa Citizen)
With mortgage rates rising, Ottawa homebuyers increasingly are fighting over available properties.
“We are seeing first-time buyers taking advantage of interest rates while they are still low,” said John Rogan, broker and manager of Royal LePage Performance Realty of Ottawa.
“Approximately three out of five listings are getting multiple offers and, on average, properties are selling above the asking price. We are in a seller’s market.”
Read the full article, “Buyers face off over properties” in the Ottawa Citizen (April 9, 2010).