Whether you own a home now and would like to purchase a smaller or larger home now is the best time. Interest rates are at the lowest they've been in a long time.
The federal government has changed the rules about downpayment for first time buyers but it's for your own benefit. When interest rates start to climb a bit it's nice to know that you can still afford the home vs what happened in the United States where people had high ratio financing and ended up having to sell due to inflated rates.
For those of you who own a home now and would like to downsize and use the equity they have to travel or purchase a cottage or invest in another way, you couldn't be in a better position.
The Ottawa Real Estate Market has always been a sure thing provided you purchased for market value at the time and didn't get involved in a bidding war. Sellers like bidding wars but Buyers end up going out on a limb to stay in the game.