The U.S. administration has announced a 25% tariff on Canadian imports, set to take effect February 1, 2025. While the full details of the policy are still unfolding, these tariffs could significantly impact the Canadian economy, Alberta’s industries, and Edmonton’s real estate market.

Prime Minister Justin Trudeau has issued a stark warning: “I won’t sugar coat it. Our nation could be facing difficult times in the coming days and weeks.” Trudeau confirmed that Canada is ready to respond forcefully, but also acknowledged the deeply-linked economies of both countries would suffer greatly.

Trump, on the other hand, remains firm on his position, stating: “Mexico and Canada have never been good to us on trade.” He also cited illegal drugs and migrants crossing the border as part of his reasoning, despite Canada’s efforts to strengthen security with a $1.3 billion border fortification plan.

How Could These Tariffs Affect Edmonton?

Potential Economic Slowdown:

• Canada exports $3.6 billion worth of goods daily to the U.S. With increased costs on Canadian goods, industries like oil & gas, manufacturing, and agriculture—all crucial to Canada’s and Alberta’s economy—could see lower demand or reduced profit margins.

• Job uncertainty in these sectors could make some buyers hesitant, slowing home sales and price growth in certain areas.

Rising Construction Costs:

• Tariffs on materials like steel, lumber, and aluminum could increase home-building costs. Developers may scale back projects, leading to lower housing supply in the long term.

• Renovation and repair costs could also climb, as materials become more expensive.

Consumer Confidence & Interest Rates:

• Economic uncertainty could make some buyers hold off on purchasing.

• The Bank of Canada could adjust interest rates depending on how these tariffs affect inflation and economic growth.

Trump has also hinted that oil could be included in the tariffs, which would significantly impact Alberta’s energy sector—a key driver of the Edmonton economy.

Advice for Sellers: How to Navigate the Market

If you’re thinking of selling your home in Edmonton, here’s what you need to know:

✔️ List Sooner Rather Than Later: Markets react to uncertainty, and hesitation from buyers could lead to longer days on the market. Listing now, while demand is steady, is a smart move.

✔️ Competitive Pricing is Key: Pricing too high in an uncertain market can lead to fewer offers and extended time on the market. A data-driven strategy ensures your home is priced right from the start.

✔️ Move-In Ready Homes Will Have an Edge: With potential construction and renovation cost increases, buyers may prefer homes that don’t need upgrades. Completing minor repairs and updates before listing could increase your home’s appeal.

Advice for Buyers: Finding Opportunity in Change

Buying a home during economic shifts can create opportunities, especially for savvy buyers who plan ahead:

✔️ Don’t Panic—Stay Informed: Edmonton’s real estate market has weathered economic shifts before, from the 2008 financial crisis to Trump’s 2018 tariffs on aluminum and steel. Long-term homeownership is still a solid investment.

✔️ Look for Motivated Sellers: If uncertainty slows the market, some sellers may be more flexible on price or terms. Buyers may find good deals by negotiating strategically.

✔️ Consider New Builds Before Prices Rise: If you’re thinking about buying a new home or condo, acting before material costs rise could save thousands.

The Silver Lining: Why Edmonton’s Market Remains Resilient

Despite potential economic challenges, Edmonton’s real estate market remains stable due to key factors:

Steady Population Growth: People continue to move to Edmonton for its affordable cost of living, compared to other major Canadian cities.

Long-Term Real Estate Cycles: Housing markets go through ups and downs, but real estate remains a strong long-term investment.

Opportunities Always Exist: Whether you're buying or selling, there are strategies to make the most of the current market—it’s about making informed, data-driven decisions.

Final Thoughts: What Should You Do Next?

Economic uncertainty shouldn’t stop you from making smart moves in real estate. At Iconic YEG, we help our clients navigate market shifts with expert insights and a strategy tailored to their goals.

If you’re selling, let’s discuss how to position your home competitively. If you’re buying, let’s explore opportunities before any market changes take full effect.

📞 Reach out today for a consultation—we’ll guide you through Edmonton’s market with clarity and confidence.

📩 Email: caitlin@iconicyeg.com | 📞 Call/Text: 587-336-3176 | 🌐 Visit: www.iconicyeg.com

Are you considering buying a new construction home directly from a builder in Edmonton, Leduc, or Beaumont? While it might seem easier to deal directly with the builder, having a trusted REALTOR®, like me—Allisha McKenzie with the Iconic YEG Real Estate Team of RE/MAX Real Estate—can make a significant difference.

Here’s why partnering with an experienced real estate professional is your best move when buying new homes or real estate in the area.

1. Representation and Advocacy

When you work directly with a builder, you’re dealing with their sales representatives—professionals who are paid to protect the builder's interests. As your REALTOR®, I’m dedicated to representing your best interests throughout the home-buying process.

• Expert Negotiation: Builders don’t always offer the best price or upgrades upfront. I negotiate on your behalf to secure valuable incentives like upgrades, finishes, or pricing.

• Unbiased Advice: While builders focus on selling their homes, I provide you with honest, expert advice to help you make decisions that align with your long-term goals.

2. Market Expertise in Edmonton, Leduc, and Beaumont

Knowing the local real estate market is crucial when purchasing a new home. I bring deep knowledge of trends in Edmonton, Leduc, and Beaumont to help you make the best investment.

• Fair Pricing: Builders’ prices can sometimes exceed the true market value. I provide a comparative market analysis (CMA) to ensure you’re paying a fair price for your new home.

• Resale Value Insight: A home’s resale potential matters, even if you’re buying new. I assess the property’s location, layout, and other factors that could impact its future value.

3. Navigating Complex Contracts

Builder contracts are lengthy and often written to benefit the builder. With a REALTOR® in your corner, you can confidently navigate these documents.

• Contract Review: I ensure the terms of the agreement protect your interests, identifying potential risks before you sign.

• Clarifying Builder Incentives: Builders advertise appealing incentives, but are they really as valuable as they seem? I evaluate these offers to ensure you’re getting the best deal possible.

4. Ensuring Quality with Inspections

Even brand-new homes can have construction issues. Builders may overlook minor (or major) problems, so having an advocate ensures the quality of your investment.

• Inspection Coordination: I recommend trusted home inspectors to assess the build quality and identify any issues before your closing day.

• Peace of Mind: From walkthroughs to follow-ups, I ensure your new home is exactly as promised.

5. Cost Savings That Go Beyond the Purchase Price

Many buyers assume skipping a REALTOR® saves money, but builder pricing often includes commissions for buyer representation. That means working with me won’t cost you extra—and could save you thousands!

• Hidden Costs: Builders may not disclose additional costs like appliances, landscaping, or condo fees upfront. I help you budget for all aspects of your new home.

• Added Value: I maximize your investment by ensuring you get the best incentives and upgrades possible.

6. Simplifying the Home-Buying Process

Buying a new construction home involves more than signing on the dotted line. From choosing finishes to scheduling walkthroughs, the process can be overwhelming. That’s where I come in.

• Streamlined Process: I manage deadlines, appointments, and paperwork to ensure everything runs smoothly.

• Stress-Free Experience: With me handling the details, you can focus on the excitement of moving into your dream home.

Why Work with the Iconic YEG Real Estate Team?

As part of the Iconic YEG Real Estate Team, I pride myself on delivering exceptional service to clients in Edmonton, Leduc, and Beaumont. Here’s what sets us apart:

• Local Expertise: We understand the nuances of the real estate market in Edmonton and surrounding communities.

• Personalized Service: Every buyer’s journey is unique, and I tailor my approach to meet your specific needs.

• Trusted Advocacy: Whether you’re buying a home or investing in new construction, I’m here to guide you every step of the way.

Ready to Find Your Dream Home?

If you’re looking to buy a new home in Edmonton, Leduc, or Beaumont, don’t go it alone. Let’s connect to ensure you get the best deal, avoid pitfalls, and make your real estate journey stress-free and successful.

Contact Allisha McKenzie, REALTOR®
Proud Member of the Iconic YEG Real Estate Team
Your Trusted Partner in Edmonton Real Estate

780-994-1855 or allisha@iconicyeg.com

👉 Call, text, or email today to start your home-buying journey!

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