Category: Alberta Real Estate Market Update

Canada's housing market saw a subdued end to 2025 due to affordability issues, tariffs, and increased supply. Major cities like Toronto, Vancouver, Calgary, and Montreal experienced falling resales and price declines amid abundant inventory and economic uncertainty. Despite interest rate cuts, recovery remains slow, with home values expected to ease further as supply grows. Montreal…

Buying your first home requires careful preparation, especially with high housing prices in Canada. A down payment typically ranges from 5% to 20% of the home's price, with additional costs like closing fees, home inspections, and property taxes. First-time buyers can access various incentives, such as the First-Time Home Buyers Incentive and the RRSP Home…

To pay off a mortgage faster, consider accelerated payment schedules like accelerated biweekly to make extra payments without feeling the impact. Make lump sum payments with bonuses or tax refunds to reduce principal and interest. Shorten the amortization period to 15 or 20 years if affordable. Increase regular payments annually by 10-20%. Avoid costly penalties…

Home prices in Alberta are mostly steady, with the average detached home price at $602,339, up 3.5% year-over-year. Lethbridge saw a significant 20% increase in detached home prices, reaching $502,790. Prices declined in Medicine Hat, Calgary, and Grande Prairie. Sales dropped 7.1%, new listings rose 4.2%, and inventory increased 20.7%. Grande Prairie has the tightest…

Vacancy rates for purpose-built rentals in major Canadian cities rose to 3.1% nationally in 2025, up from 2.2% in 2024, due to high rental completions and slower population growth. Despite landlords offering incentives, affordability remains a challenge as rents increased, especially for two-bedroom units. Cities like Toronto, Vancouver, Montreal, Calgary, Edmonton, Ottawa, and Halifax saw…

Canada’s housing market shows signs of recovery with a 5% rise in national home sales in October, the largest increase since early 2023. Toronto, Vancouver, and Calgary led gains, with Calgary up 7%. New listings also increased, easing supply constraints. Despite ongoing affordability challenges, stable interest rates and rising sales suggest a potential move toward…

Alberta Municipalities warns the federal Build Communities Strong Fund, requiring reduced development charges to qualify, could harm Alberta's infrastructure funding. Off-site levies, used to finance roads and utilities for new housing, are vital in Alberta and not general revenue. Reducing these fees may shift costs to taxpayers and slow housing growth, despite Alberta leading in…

Canada's rent growth slowed to 5.1% for two-bedroom purpose-built apartments as vacancy rates rose to 3.1%, above the 10-year average. Increased rental supply and weaker demand due to slower population and economic growth softened market conditions. Landlords offered incentives to attract tenants, with turnover rents rising 8.7%, down from 23.5% last year. Vacancy rates rose…

Fixed mortgage rates in Alberta average around 3.8% at brokers and over 4% at major banks, with variable rates starting near 3.5%. The Bank of Canada is expected to hold its overnight rate at 2.25%, keeping variable rates stable. Fixed rates remain steady due to stable government bond yields. Borrowers can lower rates by improving…

Canada’s largest provinces lag in addressing the housing crisis, with Ontario scoring lowest due to slow approvals, high development charges, and poor affordability. New Brunswick and Prince Edward Island scored highest, benefiting from low construction charges and effective policies. Most housing policy control lies with provinces and municipalities, emphasizing the need for their increased action.…