Alberta’s housing market is slowing, seen as a return toward more normalized, balanced conditions.
Edmonton had 21,337 starts in 2025 vs 18,334 in 2024; Calgary had 27,684 vs 24,396.
Despite <12% of Canada’s population, Alberta built almost a quarter of national starts last year.
Speculative single-family supply hasn’t been absorbed; Fay said prices could possibly ↓5% to 10%.
Rothrock said population growth should be just over 1% this year and 1% in 2027; demand should slow in 2H 2026.
