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Trade Tensions Slow Canadian Housing Market as Sales and Prices Decline

RBC Economics reports significant April resale drops and price declines in major cities, while MoneySense ranks Calgary and Edmonton as top value markets.

While Calgary's overall real estate market is balanced, certain segments remain very competitive.
Many first-time buyers are looking in the community near Commonwealth Stadium.
Calgary resales remain about at the average level of the last decade, though well below the record-setting pandemic peak.

Overview

  • April resales fell year-over-year by 24% in Vancouver, 29% in Fraser Valley, 23% in Toronto, 22% in Calgary, and 13% in Edmonton, according to RBC Economics.
  • Benchmark prices since December have declined by over 4% in Toronto, 1.8% in Vancouver, and 1.4% in Calgary, reflecting market cooling.
  • Montreal was the only major market to see sales growth in April, with a 10% year-over-year increase, though its market is expected to shift toward buyers.
  • Calgary and Edmonton were ranked second and fifth, respectively, in MoneySense's annual 'Where to Buy Real Estate' report, highlighting affordability and income metrics.
  • Calgary's detached homes under $700,000 remain highly competitive, with some neighborhoods like Greenwood-Greenbriar and Abbeydale seeing over 70% price growth in five years.