Ottawa Home Builders' Confidence Bottomed Out

Ottawa home builders' confidence about the market may have bottomed out.

Many builders viewed the current market for single-family homes as "poor".

The builders' near-term outlook isn't great, either, as only 15 % had good expectations about the market, compared to the 37 % who had poor expectations.

And the builders continue to report weak interest from potential buyers, with only 2.9 % reporting "high" customer traffic, unchanged from September. The survey also showed 59.5 % reporting "low" traffic, up slightly from September's reading and the biggest share reporting low trafffic since January 1995.

The home building market has at least bottomed out and can start to improve from here.