b"HOUSING MARKETover a year, and people are still just puttingability factor will lend itself more to a rowalso forecast increasing housing starts up the lawn sign without barely anybodyhome and larger condominium starts, rental housing in particularand a even looking through it. I'm not evenmore so in Calgary than in Edmonton duecontinuing tight rental market.talking about making offers, so that's to the price point gap between thosea struggle. two markets. Continuing eastward to the Atlantic Its a different story on the Fraser Valleycoast, Ma notes that the market in the sideSurrey, Langley, Maple Ridge,SLOW TO STEADY Atlantic provinces has been a more steady, Abbotsfordwhere prices are moreJumping from the Prairies to Ontario,balanced market. There are some places affordable. Ma notes that younger familiesand the Greater Toronto Area (GTA) inthat [are actually] geared toward more of are starting to move into those areas,particular, the rise in interest rates over thea sellers market, and that really, again, where townhomes can be had for less thanlast few years has motivated owners to sellcomes down to the entry price,a million dollars, and he feels that transi- versus paying the now significantly higherhe says. tion will continue for some time. monthly mortgage, which has, in turn, increased inventory and driven pricesMa points out that in places like Nova Moving into Alberta, there has been adown by roughly 4.5 per cent over the Scotia and Prince Edward Island, water-large influx of people moving into thelast year.front property can be had for less than a province due to its relative affordability,In fact, details Ma, in terms of salesmillion dollars, making those attractive especially compared to Vancouver andactivity, May 2025 was the lowest in thelanding spots. The challenge is drawing Toronto. The influx has been particularlylast 10 years, which tells you how muchpeople to a region that historically has acute since the beginning of the pandemic,softer the market has becomepartly ashad less appeal than cities like Toronto, because the ability to work remotely tookwell because of this tariff situation, whichCalgary and Vancouver.a leap forward, so people dont necessarilyhas shaken peoples confidence in theirhave to live in the same city where theirjob security. The challenge with the Atlantic provinces employer is based.except for maybe Halifaxis that they What is notable is that while Alberta hasOn that front, Ma does see reason for opti- are not really considered as urban cities two large cities, namely Edmonton andmism in the GTA, depending on whichin terms of their livability, points out Calgary, they have to be considered indi- side of the sales transaction one sits: IMa, [Like cities] where there are a lot of vidually because prices are going up inthink the whole tariff situation is startingthings that are walkable or a short drive Edmonton whereas the Calgary marketto settle for a lot of people, and wereaway. However, people who enjoy the is cooling down. It all comes down to theexpectingor at least Im expectingaoutdoors will look at those [East Coast] market reaction to affordability, points more active fall market compared to aprovinces for a potential move, which out Ma.normal year and compared to last year . is why the Atlantic provinces have been Edmonton's a little bit hotter thanQuebec is a bit of an outlier from themore balanced overall, and that hasnt Calgary just because of price point. Therest of the country, notable for its rela- been affected too much by whats going on Calgary market has been hot [for a coupletive price stability. According to the Edgewith the rest of Canada.of years], and when that happens, pricesRealty report, Quebecs MLS HPI was continue to increase. Right now, Calgaryup 9.3 per cent year-over-year in April,Looking into the crystal ball, Ma expects is still a great market for sellers, however,with Quebec City, in particular, showingan increase in both buying and selling people are now thinking, Well, Edmontonnotable price appreciation. Montreal, onacross the Canadian markets as a whole has very similar city life, but prices mightthe other hand, has been more moderate,in the second half of 2025, compared be lower. So maybe I should considerwith stable pricing and relatively balancedyear-over-year to 2024. However, he Edmonton versus Calgary. Thats whereinventory levels.concludes, that doesnt really translate to you see Edmonton is now a scorching hotQuebec sales increases were expected toincreased prices yet, because there needs market versus Calgary.continue this year, supported by a strongto be some catch-up to sell inventory From the standpoint of construction startsjob market, according to a February 2025currently on the market. So its a fantastic and inventory, Ma expects that the afford- Housing Market Outlook report, whichtime for people to buy, if theyre ready. STRENGTHEN YOUR VOICEREACH ASSOCIATION MEMBERS ANDINDUSTRY PARTNERS ACROSS THE COUNTRYWITH TAILORED COMMUNICATIONS SOLUTIONSRobert Thompson, Senior Vice President robertt@mediaedge.ca 647-494-4229Fall 2025PERSPECTIVES23"