Edmonton is the only large Canadian market with no housing supply gap, according to CMHC's Fall 2026 Housing Supply Report — construction here has generally kept pace with population growth. For buyers and sellers, that is the structural reason Edmonton has stayed comparatively affordable while other major markets face large shortfalls.
What did CMHC actually find about Edmonton?
CMHC estimates Edmonton needs about 15,000 housing starts a year to restore pre-pandemic affordability by 2036 — and business-as-usual construction is already projected at about 15,000 a year. The gap is none. Compare that with the national picture: Canada needs 417,000 to 469,000 starts a year against a business-as-usual pace of about 231,000.
CMHC released separate research on October 20, 2026 showing inflation-adjusted Canadian home prices rose 101% between 2005 and 2025 — faster than Australia at 79%, New Zealand at 77%, and the United States at 30%. Canada's population grew 29% over the same period while construction stayed relatively stable as a share of the housing stock, and Canada has 426 homes per 1,000 residents, below the OECD average of 468.
Why does a supply gap matter to prices?
Where demand grows faster than supply for years, prices and rents absorb the difference. Edmonton's advantage is not that demand is weak — it is that building kept up. That is also why Edmonton's September 2026 numbers look balanced rather than distressed: 1,959 sales, 3,864 new listings, inventory up 16.7% year over year, and an average price of $466,080 that was still up 2.9% year over year (REALTORS® Association of Edmonton).
"We had an excellent experience working with Travis as both our realtor and mortgage broker… professional, knowledgeable, patient." — Sheri Tian, Google review
What does this mean if you are buying in Edmonton?
It means choice is a feature of this market right now, not a warning sign. With 44 average days on market in September, you can usually keep an inspection condition, compare neighbourhoods properly, and negotiate — things buyers in supply-short markets often cannot do. Relocating buyers in particular should read Edmonton's balance as stability: the city CMHC says has no gap is the city least likely to be forced into a bidding-war market by a sudden shortage.
Start with what a home is worth on sold data — a free home evaluation works for a home you own, and the same sold-data discipline applies to a home you want to buy.
What does this mean if you are selling in Edmonton?
It means your competition is real and current. Buyers here have options, so pricing to the last 60 to 90 days of comparable sales matters more than pricing to a headline about national shortages. My guide to selling your home in Edmonton walks through how the September numbers translate to a single street and price range.
Buying or selling in the one major Canadian market CMHC says is keeping up on supply? Call me at 780-720-8240 and we will price or offer from sold data, not national headlines.
By Travis Bannert, Realtor and Mortgage Broker
Travis Bannert, Realtor® | Bridge Realty Group, Maxwell Progressive Realty | 780-720-8240 | bridgerealtygroup.ca
Photo via Wikimedia Commons — Edmonton skyline and High Level Bridge.
