How did 2024–25 rate hikes affect sales volume?
Quick Answer
Short answer: Sales fell 11% in 2024 but rebounded 7% YTD 2025 as buyers adjusted to 4–5% rates.
Detailed Explanation
RAE recorded 20,266 residential sales in 2024 versus 22,755 in 2023. Once the Bank of Canada paused in March 2025, pent-up demand released: April–May sales exceeded 10-year averages for the first time in 18 months.
- Five-year fixed high: 5.19% (Oct 2024)
- Average pre-approval rate now 4.49%
- New-listing count flat YoY—sellers wait for lower rates
Disclaimer: This page is for general information only and does not constitute legal, financial, or real estate advice. Always verify details with a licensed Alberta REALTOR®, mortgage professional, or lawyer before making decisions. Buy in Edmonton assumes no liability for actions taken based on this content.
Tim Grover, RE/MAX Excellence • 780-288-5144 • 5607 199 Street NW, Edmonton, AB
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