Author: John Braconnier

Affordability has now been a major challenge in Canada’s housing market for 10 straight quarters. With mortgage rates expected to hold steady or even increase over the next year, the spotlight is shifting to home prices and income growth as the main factors shaping what buyers and sellers can manage. For many in Edmonton, where I’m focused on making your real estate journey less stressful, this means keeping a close eye on how local prices move and how the job market supports household incomes. Slower population growth is also expected to help keep prices in check, but economists remind us that without consistent moderation in home prices, any improvements in affordability may be limited. It’s important to remember that each market is unique—what’s happening in Vancouver or Toronto isn’t always what we see in Calgary or here in Edmonton. As your local realtor, I’m here to offer honest advice tailored to our city’s ever-changing landscape, always keeping your needs and goals front and center.

This week brought some important updates on the housing front here in Canada. We’ve seen new data on inflation, housing starts, and retail sales, plus ongoing conversations about trade that could impact nearly US$20B of Canadian exports with the possibility of hefty tariffs. For anyone thinking about making a move—buying, selling, or investing—these factors shape what we might expect in our local markets. Notably, a major real estate group has just adjusted its 2026 forecast, now predicting national sales will dip slightly this year rather than grow. As always, I’m following these shifts closely because your real estate journey deserves honest advice and up-to-date insight. My goal is to help you navigate every change so you can make decisions that truly reflect your needs.

Labour Day in Canada marks a well-earned break celebrating workers and the unofficial end of summer, when everyone suddenly remembers all the things they meant to do in August.
It’s the last big excuse for barbecues, lake trips, and squeezing in one more summer adventure before routines and school schedules take over again.
Stores and sidewalks feel a little calmer, while patios and parks get their final big rush of summer energy and “just one more weekend” vibes.
Happy Labour Day! Wishing you a relaxed, fun-filled long weekend with good food, no alarms, and maximum enjoyment before fall shows up uninvited.

In Late-Q2 2026, Edmonton was among four metros where affordability deteriorated, as home prices continued rising and made ownership costs tougher for households.
Edmonton's result showed local price growth offset broader affordability supports seen elsewhere, underscoring how strongly home values still shaped buyers' monthly payment burden.
The monitor said affordability gains across covered markets had shifted from rate-driven relief to price-driven relief, an important backdrop for understanding Edmonton's current direction.
Looking ahead, the bank did not expect mortgage rates to deliver more affordability relief over the next year, reducing one potential support for Edmonton.
For Edmonton, the report pointed to income growth and restrained home-price appreciation as the main paths toward renewed affordability improvement in the periods ahead.

Canada’s affordability strain barely improved into the current second half of 2026, leaving many younger buyers feeling homeownership is slipping further out of reach.
Some younger Canadians have shifted toward 'doom spending,' prioritizing travel and experiences over downpayment savings because they doubt they will ever afford a home.
Family help remains a common path to a downpayment, and brokers say normalizing those conversations can reassure buyers who feel embarrassed asking relatives.
While activity stayed sluggish across many Canadian housing markets in 2026, debt servicing often remained the bigger barrier than the downpayment itself.
Entry-level homes moved quickly in one Canadian market, fueling competition, yet brokers still framed ownership as a meaningful long-term goal despite the stretch.