What could Trump’s tariffs mean to Edmonton’s housing market

A fog of uncertainty is facing Canada’s housing industry as President Trump’s tariffs kick in. Edmonton’s industry leaders say home buyers will bear most of the cost of this trade tension.

“Nobody knows what’s on President Trump’s mind and what the end game is. What we’re facing is unprecedented,” said Amarjeet Sohi, Mayor of Edmonton.

Home builders and developers in Edmonton echoed Mayor Sohi’s concerns over the impact of Trump’s 25 per cent tax on Canadian imports Canada and Canada’s retaliatory tariffs.

“Certainly, we anticipate upward pressure on costs,” said Paul Lanni, the president and CEO of Averton Homes.

Lanni says with the tariffs in place we will see a higher cost of construction, affecting affordability and supply.

“I do think that we are at a bit of a disadvantage in Canada in terms of the amount of products that we don’t build here versus having to get things from the U.S. or overseas,” said Lanni.

Katrina Rowe, a board chair of BILD Edmonton Metro says, “Lumber for example. If our lumber mills selling a lot of lumber to the United States and that dries up then will they all stay open. Will it actually get harder to get lumber here in Edmonton? It doesn’t necessarily mean that things that are close to home will be cheaper.”

According to the City of Edmonton, more than 100,000 people moved to Edmonton from 2021 to 2024 with similar growth numbers expected over the next three years. So how do we keep up with the growing demand?

“The key is really going to be delivering a variety of housing products. We need to continue to see the diversity in our offerings between for sale, for rent, multi-family, and other ways to deliver housing more quickly,” said Lanni.

Rowe added, “Our industry will continue to try to find supplies and materials closer to home so that we can avoid the tariffs.”

Amid this looming uncertainty, Edmonton landed the top spot for housing affordability among 23 Canadian cities. Industry leaders say despite the tariffs edmonton will continue to lead in affordability.

“We are part of team Canada. That we will do in our capacity to help the federal government and the provincial government to put together an effective plan that not only respond to counter tariffs but also how governments have to support our communities, businesses and workers and families and municipalities,” said Sohi.