How do oil prices affect Edmonton housing?
Quick Answer
Short answer: Housing demand moves roughly six months behind crude price swings, but diversification has muted the correlation.
Detailed Explanation
Regression analysis by ATB Financial finds a 0.6 correlation between WTI and Edmonton resale volumes from 2000-2024, down from 0.8 in the 1990s. The 2023-24 energy rebound (WTI hovering US $78–85) boosted full-time energy employment by 5%, translating to a 9% jump in Q1 2025 sales.
- Energy now 18% of metro GDP vs 27% in 2010
- Tech and life-sciences employment up 12% YoY
- Bank of Canada stress scenarios assume US $55 oil; Edmonton prices hold steady
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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