A new housing report says Calgarians unable to afford a home in their city anymore are starting to look to buy elsewhere, and they have their sights set on Edmonton.
Re/Max has released its 2025 Canadian Housing Market Outlook, and it is pointing to an increase in price growth in both Edmonton and Calgary.
One big thing Alberta continues to see is demand from out-of-province buyers from Ontario and British Columbia who are searching for affordability.
Re/Max says Calgary in particular has seen a boost in popularity in the last few years, and as a result, affordable housing is in low supply. With all that interest in YYC, Edmonton has since seen an influx of homebuyers from Calgary who have been “priced out” and are looking to Edmonton for an affordable way to enter or invest in the housing market.
Re/Max
Looking ahead to 2025, the Calgary housing market is expected to transition to a buyer’s market overall, but market conditions will depend on the price point.
The mid-to high-price range is expected to be balanced, while demand at the affordable price points will create seller’s market conditions. The average price is expected to rise by 5% in 2025, while the number of sales will likely increase by 2%.
Re/Max
In Edmonton, 2025 is shaping up to remain a seller’s market, with the average residential sale price across all property types anticipated to rise by 10%, while the number of sales will likely increase by 4%. The number of listings is expected to increase by 3% next year.
You can check out the full report here.