The only similarity between Edmonton and Calgary’s housing market is the fact that both cities are in Alberta.
One might think the provincial Capital and its rival to the south would experience similar trends in real estate, since both centres ride the up and down oil and gas market roller coaster. But, that doesn’t seem to be the case.
Edmonton has experienced a boom in new construction, single-family housing, and Calgary has not. Calgary home prices are higher, while Edmonton’s are not. Let’s examine the differences.
New Home Starts
In the first eight months of 2015, Edmonton new home starts were nearly double those of Calgary. Canada Mortgage and Housing Corp (CMHC) reports that ground broke on 4,043 single-family units in the…