Edmonton Real Estate Market

[IanO]

Groundwork: Fuel prices spark ire among Edmonton consumers, but also speculation

Ongoing high gas prices have some people in Edmonton wondering about their legitimacy, but also how they could affect tourism and urban design

edmontonjournal.com

 

[IanO]

https://www.linkedin.com/in/nicholas-hrebien-41386285?miniProfileUrn=urn%3Ali%3Afs_miniProfile%3AACoAABIaJc8BmsNk_Xg4aZhjHhoqX0nr8FuMHNA&lipi=urn%3Ali%3Apage%3Ad_flagship3_feed%3BP9s30w3uQVeESpaQSWhKQQ%3D%3D&licu=urn%3Ali%3Acontrol%3Ad_flagship3_feed-actor_container&lici=UltF%2BU%2FrGzUXyMq4u7EyFg%3D%3D

 

[IanO]

Monthly Housing Starts and Other Construction Data Tables

Download this data to learn more about actual and seasonally adjusted housing starts by geography and dwelling types. tivity.

www.cmhc-schl.gc.ca

 

[MacLac]

Not a typo eh? 3 months ago we were heading to wards 17,000, now we’ve gone backwards to 12,000? Seems strange? Or is it just me being obtuse?

 

[occidentalcapital]

These numbers fluctuate a lot.

 

[MacLac]

So these are just “pie-in-the-sky” estimates? If so, are we really off by a negative (5000) home starts?

 

[soupcrate]

So these are just “pie-in-the-sky” estimates? If so, are we really off by a negative (5000) home starts?

It's annualized. Our home starts decreased significantly from last month (after doing a seasonal adjustment).

 

[occidentalcapital]

All anecdotal evidence from this month points to a big increase. A lot of people moving here from Ontario right now.

 

[IanO]

Sell, cash-out and be mortgage free here... not a bad plan.

 

[IanO]

Monthly Housing Starts and Other Construction Data Tables

Download this data to learn more about actual and seasonally adjusted housing starts by geography and dwelling types. tivity.

www.cmhc-schl.gc.ca

• According to Canada Mortgage and Housing Corporation (CMHC), Edmonton saw a 5% year-over-year increase in housing starts from June 2021 to June 2022, but a 41% decrease from May 2022 to June 2022 when seasonally adjusted at annual rates. “The decrease in monthly SAAR housing starts in Canada’s urban areas was driven by lower single-detached starts in June,” said CMHC’s chief economist Bob Dugan, who noted that the level of housing start activity has remained historically high since 2020.

 

[IanO]

Affordability Across Canada
RE/MAX Canada brokers and agents in 24 key markets across the country were asked to provide their analysis on local market activity and housing affordability trends for the first half of 2022.

Western Canada
Across Western Canada, competition from out-of-town or move-over buyers has put upward pressure on home prices year-over-year. Double-digit year-over-year price increases were noted in Kelowna/Central Okanagan, BC (+21.1% from $778,657 in 2021 to $942,977 in 2022), Vancouver, BC (+19.69% from $1,097,000 in 2021 to $1,313,000 in 2022), Victoria, BC (+14.93% from $885,117 in 2021 to $1,017,292 in 2022), and Winnipeg, MB (+12.66% from $388,291 in 2021 to $437,460 in 2022). Meanwhile, more modest price increases were seen in markets including Calgary, AB (+5.85% from $499,229 in 2021 to $528,440 in 2022), Edmonton, AB (+4.73% from $390,490 in 2021 to $408,961 in 2022), Red Deer, AB (+3.24 % from $345,576 in 2021 to $356,779 in 2022), Regina, SK (+0.42% from $322,600 in 2021 to $323,950 in 2022), Brandon, MB (+1.75% from $304,929 in 2021 to $310,252 in 2022) and Saskatoon, SK (+1.45 from $368,079 in 2021 to $373,410 in 2022).

https://www.newswire.ca/news-releases/relocation-relocation-relocation-canadians-love-their-neighbourhoods-but-will-move-to-find-affordable-homes-833601161.html?utm_source=Taproot+Edmonton&utm_campaign=5e6f88823e-TAPROOTYEG_PULSE_2022_07_21&utm_medium=email&utm_term=0_ef1adf0932-5e6f88823e-420411302&mc_cid=5e6f88823e&mc_eid=b81cde227f

 

[EtoV]

That Winnipeg increase is surprising.

 

[TAS]

That Winnipeg increase is surprising.

No kidding. They're $30,000 more than here on average. I didn't even realize their home prices were the same as ours in 2021 let alone 7.5% higher now. I think from the last census they were experiencing less population growth than us. Maybe that is changing in 2022.

 

[EtoV]

I wonder if it's bleed over from Ontario, where people are moving to somewhere more affordable, but want to still be relatively close to Ontario still.

 

[MacLac]

No kidding. They're $30,000 more than here on average. I didn't even realize their home prices were the same as ours in 2021 let alone 7.5% higher now. I think from the last census they were experiencing less population growth than us. Maybe that is changing in 2022.

No way in hell is Winnipegs’ home prices higher then ours ……fake news!