Edmonton house prices have increased by $22,600 this year

A new report shows house prices in Edmonton rose by over $4,000 last month. The minimum annual income needed to buy an average home in Edmonton increased from $84,850 in April to $85,450 in May. Home prices in Edmonton have risen to $392,700 from $370,100 at the start of the year. Calgary saw a bigger increase in house costs, with the average income required to buy a home rising by $1,020. Despite stable mortgage rates, rising home values are making affordability a challenge for many buyers.