The economic conditions that have been plaguing real estate markets like Toronto and Vancouver for months are starting to spread to the Prairies and Maritimes, where major cities are seeing price growth come to a halt. <\/p>\n
Data from Wahi, a digital real estate platform, and Real Property Solutions (RPS), a Canadian property valuation service provider, show that price growth in June slowed notably in Edmonton and Regina, while prices in Halifax have declined. <\/p>\n
What\u2019s happening with the housing market? Ask our real estate reporters<\/a><\/p>\n Wahi economist Ryan McLaughlin said the three communities are starting to feel the impact of slowing immigration and relatively high interest rates, which are eating into buyer demand and purchasing power.<\/p>\n We spoke to realtors and Mr. McLaughlin to take a closer look at some of the reasons why these markets are stalling.<\/p>\n Halifax<\/p>\n Halifax has posted year-over-year home value declines of 4 per cent for three months straight. That\u2019s flipped the script from the property market\u2019s consecutive months of 4-per-cent growth toward the end of 2025. <\/p>\n Matt Honsberger, broker and owner of Royal LePage Atlantic in Halifax, said transactions have been slowing for a long enough period that it\u2019s causing price drops. <\/p>\n One unique factor to the Maritime city is a boom in the development of purpose-built rental buildings. Mr. Honsberger said there are currently 13,000 units at some stage of approval or construction \u2013 a large number for a region of just over 500,000 people.<\/p>\n \u201cThat\u2019s a lot for our market to absorb,\u201d Mr. Honsberger said.<\/p>\n Open this photo in gallery:<\/a><\/p>\n Halifax’s period of decline may be short-lived because of Ottawa’s recent military submarine deal, which is expected to bring billions of dollars of investment to the region.Darren Calabrese\/The Globe and Mail<\/p>\n He said renters are in no rush to buy right now, since rent rates are dropping as a result of new supply, and that\u2019s eating into real estate demand.<\/p>\n Halifax also has a large number of postsecondary institutions, and the decline in foreign students has had an outsized impact in the city.<\/p>\n However, Mr. Honsberger said this period of decline in the Halifax market may be short-lived because of a recent military submarine deal, which could bring billions of dollars of investment to the region and tens of thousands of jobs.<\/a><\/p>\n Edmonton<\/p>\n ‘<\/p>\n Edmonton\u2019s real estate market is still posting modest gains, but the speed of growth has diminished fast. In June, Wahi-RPS data showed 1 per cent year-over-year growth in housing values. That compares with growth as high as 7 per cent in mid-2025. <\/p>\n Eddie Chang, a sales representative in Edmonton, said the city managed to also reach a new record last month, when the average selling price of a detached home surpassed $600,000 for the first time ever. <\/p>\n However, market conditions are becoming tougher for sellers. Resale listings are staying on the market for longer, as they compete with newly built homes that are eligible for GST rebates.<\/p>\n \u201cIf you\u2019re in a neighbourhood where you\u2019re competing with new home inventory \u2026 competing against them getting their GST rebate is going to affect resale prices,\u201d Mr. Chang said. <\/p>\n