Edmonton housing market

New-home prices

Statistics Canada's new housing price index for Edmonton stood at 105.7 in Sep 2026, down 0.8% from a year earlier, compared with down 2.0% for Canada as a whole.

With December 2016 set to 100, the index means builders are charging about 5.7% more for a comparable new home than they did then.

The index peaked at 110.8 in Jun 2022 and is now 4.6% below that high, so new-home prices have given back part of their earlier gains.

The index tracks contractors' selling prices for new homes of the same specifications. It does not cover resale homes, so it shows builder pricing rather than the whole market.

Construction and supply

Builders started 19,055 homes in Edmonton over the 12 months to Sep 2026, down 11.4% from the previous 12 months.

18,245 homes were completed over the same period (down 2.1%), and 18,494 were under construction at the latest count (up 4.0% year over year).

More homes are being started than finished, so the construction pipeline is growing and should keep completions up in the coming months.

Building permits, which come before construction starts, covered 20,689 dwelling units over 12 months, down 18.6%. A drop in permits usually points to fewer starts ahead.

Of newly completed homes, 1,660 were still unsold or unrented at the latest count (up 6.6%), while 7,179 new homes were sold or rented on completion over the last 12 months (down 4.2%).

Population and housing need

Edmonton's population was estimated at 1,692,385 (July 1, 2025), growing 3.1% over the year.

That works out to 11.3 housing starts per 1,000 residents, and 10.8 completions per 1,000.

Roughly 50,717 residents were added in the latest year, about 2.8 new residents for every home completed. That is more people per new home than the typical household size, so population growth is outpacing new supply.

Rental market

CMHC's Rental Market Survey put the purpose-built rental vacancy rate at 3.9% (October 2025 survey), up 0.8 percentage points from the previous survey. A rate of 3% or more is generally considered balanced or soft, giving renters more choice.

The average two-bedroom rent across all purpose-built units was $1,598 a month, up 4.5% year over year.

Statistics Canada's quarterly estimates show advertised two-bedroom rents of $1,570 versus $1,570 actually paid by renters. Advertised rents are at or below what sitting tenants pay, a sign that the market for new leases has softened.

Borrowing costs

Borrowers who took out a new uninsured mortgage in Aug 2026 paid an average of 4.58% on fixed terms of five years or more and 3.90% on variable rates, according to the Bank of Canada. The five-year-plus fixed average is up 0.3 percentage points from a year earlier.

Variable rates sit 0.68 points below long fixed terms, so borrowers are paying a premium for payment certainty.

The Bank of Canada's policy rate is 2.50% and the banks' prime rate is 4.70%. Variable-rate mortgages are priced off prime, so they move when the policy rate changes; fixed rates follow Government of Canada bond yields, with the 5-year yield at 3.46%.