Edmonton home sales plunge 19.6% year-over-year
The city leads Alberta's real estate decline as inventory tightens and buyer interest cools across the province.
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Edmonton's housing market is cooling faster than anywhere else in Alberta. Year-over-year home sales dropped 19.6% in May, according to data from the Alberta Real Estate Association—the steepest decline in the province.
Red Deer fell 13% and Calgary dropped 15.5%, but Edmonton's slide is the sharpest. Only Fort McMurray (up 25%) and Lethbridge (up 4.1%) saw gains; Medicine Hat also declined at 9.4%.
The Alberta market overall saw May sales fall 12.2% year-over-year, with the biggest hits landing on row housing and apartments for the thirteenth straight month. Listings dropped 3.8% across the province, while inventory grew 2.1%—a sign fewer buyers are competing for available homes.
Edmonton's months of supply rose 36% year-over-year to sit higher than the provincial average, giving buyers more options but signaling softer demand. Calgary is loosening too, though Grande Prairie remains the tightest market in Alberta with just 1.4 months of supply.
Price growth across Alberta remains positive overall, with Lethbridge leading at 10% and Fort McMurray at 9%, but Edmonton's market shows the clearest pivot toward a buyer's advantage after years of tight inventory.