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Economic Uncertainty Drives Diverging Trends in Edmonton and Calgary Housing Markets

Edmonton sees rising sales and prices, while Calgary experiences a balanced market with declining sales and growing inventory as Canadians navigate trade policy and election concerns.

Year to date, home sales were down 17 per cent for Calgary's market.
"Edmonton is the hottest real estate market in Canada right now," says realtor Dave Ozubko.
The rise in unemployment could exacerbate conditions as mortgage defaults tend to increase in lockstep.

Overview

  • Edmonton's housing market remains Canada's hottest, with modest sales growth, a 5% increase in new listings, and a 12% year-over-year rise in average home prices to $438,100.
  • Calgary's market shifts to balance, with year-to-date sales down 17%, apartment sales dropping 29%, and inventory rising by 21% compared to early 2024.
  • First-time home buyers in Calgary find reduced competition, presenting an opportunity to enter the market, though affordability challenges persist across Alberta.
  • High-net-worth buyers report feeling insulated from economic uncertainty, benefiting from rising home values despite broader market volatility.
  • Psychological effects of U.S. trade policy volatility and the looming federal election are prompting Canadians to reassess real estate decisions, particularly in Alberta's energy-reliant regions.