What’s happening in the market today?

If you’re preparing to list your Edmonton home this year, you’re likely walking through your rooms wondering what needs an update. It’s incredibly tempting to start swinging hammers, tearing out cabinets, and throwing fresh paint on the walls to attract top-dollar offers. But the reality of real estate is that not all upgrades are created equal—and some can actually cost you money.

As we navigate the Edmonton real estate market in 2026, buyer psychology has shifted dramatically. The pandemic-era design crazes and rushed DIY weekend projects are officially in the rearview mirror. Today’s buyers are highly critical of renovations that feel cheap, impractical, or overly personalized. With the current cost of borrowing, buyers want move-in-ready functionality, not a house full of trendy fads they will have to spend money to undo.

Before you spend a single dollar on renovations, you need to ensure your upgrades will offer a solid return on investment (ROI). Here are five popular home design trends that are actively hurting your resale value—and what Edmonton buyers actually want to see instead.

1. "Flipper Grey" Everything

For nearly a decade, house flippers relied on cool, "agreeable grey" to paint every wall, cabinet, and floor in a home. Today, this monochrome aesthetic is a massive red flag for buyers.

A completely grey house feels sterile, dated, institutional and signals to buyers that the home may have been subjected to a hasty, budget-friendly flip. Furthermore, in Edmonton, we deal with long, dark winters. When natural light is scarce in January, a cool grey interior can make a home feel like a gloomy commercial office space.
Modern buyers are craving warmth, character, and organic tones. According to Zillow’s home interior research, homes featuring warm earth tones, dark olive green kitchens, and moody, rich bedrooms consistently attract higher offers and more page views than all-grey homes.

The Edmonton Fix: Swap cool, flat greys for soft greige, warm creamy whites, or rich wood accents. These tones bounce winter light beautifully and make the home feel inviting and professionally designed. If your home is from the 70’s and is in good shape, it might actually be best to not renovate anything - rich wood, champagne carpets and basement bars are all back in demand. 

2. Ripping Out the Home's Only Bathtub

Luxury walk-in showers with massive glass enclosures and dual rain showerheads look incredible in magazines, but removing the only bathtub in your home is a major resale misstep.

While the Appraisal Institute of Canada (AIC) notes that bathroom remodels generally yield a strong ROI, destroying a home's sole bathtub immediately disqualifies a massive segment of the Edmonton buyer pool. Neighborhoods in the Southwest and suburbs like St. Albert and Sherwood Park are heavily driven by family buyers. Young families with toddlers, as well as pet owners, consider a bathtub an absolute, non-negotiable requirement.

The Edmonton Fix: If you are upgrading your primary ensuite to a massive, spa-like walk-in shower, ensure your main floor or upper-level family bathroom retains a functional, clean bathtub.

3. Sliding Barn Doors on Bathrooms and Bedrooms

The "modern farmhouse" trend had a great run, but heavy, rustic sliding barn doors have overstayed their welcome—especially when applied to intimate spaces like bathrooms, home offices, or primary suites.

Buyers in 2026 view barn doors as a massive impracticality. They rattle loudly on their tracks, hog valuable wall space that could otherwise be used for furniture or art, and most importantly, they offer zero acoustic or visual privacy. In a busy household, a door that doesn't block sound is a major annoyance. Not only that, the best-installed barn doors will still leave a gap that you can see through - far from ideal for a bathroom.

The Edmonton Fix: Stick to traditional solid-core panel doors for bedrooms and bathrooms. If you are dealing with a tight footprint and a swinging door won't work, invest the money in a smooth-gliding pocket door hidden seamlessly inside the wall.

4. Hyper-Customized Space Conversions

Did you turn your heated two-car garage into a specialized micro-gym? Or perhaps you converted a valuable third bedroom into an elaborate, permanent open-plan custom closet? What about a basement rec room that has been entirely swallowed up by a massive, custom-built wet bar?

While these tailored spaces may serve your current lifestyle beautifully, future buyers do not want to pay a premium for your specific hobbies. Worse, when you permanently eliminate essential, functional spaces—like bedrooms, garage parking (a must in Alberta winters), and standard storage—you drastically lower the comparable value of your property.

The Edmonton Fix: Keep your spaces flexible. Use modular, non-permanent furniture and shelving for your hobbies so that a home gym can easily revert back to a garage, or an office can easily transition back into a nursery before you list.

5. Total Open-Concept Demolition

The massive, all-encompassing open-concept floor plan—which was the gold standard for new builds in the early 2000s—is officially falling out of favor. Real estate professionals are seeing a clear trend: buyers are actively avoiding homes where the living room, dining room, kitchen, and foyer exist in one cavernous, echoing chamber.

There are two main reasons for this. First, with hybrid work schedules remaining a permanent fixture for many Albertans, buyers need dedicated wall space, acoustic privacy, and cozy, separate zones so multiple family members can work or relax without talking over one another. Second, heating a massive, unsegmented open space during a -30°C Edmonton cold snap is incredibly inefficient and expensive.

The Edmonton Fix: Instead of tearing down every load-bearing wall in sight, opt for "flexible zoning." Use framed archways, elegant double French doors, or half-walls to create long sightlines without sacrificing room separation and sound control.

What Actually Adds Value in 2026?

If you want to spend money where it counts, skip the cosmetic fads and focus on functionality and efficiency.

According to Natural Resources Canada (NRCan), energy efficiency is now one of the top features Canadian buyers look for. Upgrading to triple-pane windows, installing a smart thermostat, adding attic insulation, and ensuring your furnace and hot water tank are modern will net you far more buyer interest than a trendy backsplash.

FAQ: Home Value & Renovations in Edmonton

Q: Which home renovations have the highest ROI in Alberta?

A: Historically, minor kitchen remodels (painting cabinets, updating hardware, and swapping countertops) and minor bathroom updates yield the highest return on investment. Updating light fixtures and applying a fresh coat of warm, neutral paint are also highly cost-effective ways to boost your listing price.

Q: Does landscaping actually increase my home's resale value?

A: Absolutely. Curb appeal is your home's very first impression. A tidy lawn, fresh mulch, power-washed siding, and a freshly painted front door can yield a massive return by immediately putting buyers in a positive mindset before they even step foot inside.

Q: Should I finish my basement before selling my Edmonton home?

A: It depends entirely on your timeline and budget. While a finished basement adds valuable square footage and appeals to buyers looking for rental income suites or family rooms, it is a high-cost, time-consuming project. If you are planning to sell in the next few months, it is often better to leave it unfinished rather than rush a cheap job. Let the new buyers customize it to their exact liking, and price accordingly.

Ready to Maximize Your Home’s Value?

Updating your home before listing is a brilliant move—but only if you are investing your hard-earned money into the right features. The Edmonton market is competitive, and knowing exactly what local buyers are searching for right now is the difference between your house sitting on the market for months or triggering a bidding war.

Don't guess what your home needs. Let the experts guide you.

Before you hire a contractor or buy a can of paint, reach out to Mike today. I will provide a completely free, no-obligation home valuation and walkthrough. I’ll be able to give you an honest, data-backed breakdown of which specific renovations will generate a 1:1 return in your specific Edmonton neighborhood.

Albertans face a historic choice on October 19, 2026: deciding whether to remain a province within Canada or initiate formal legal steps toward independence. Beyond the political headlines lies a crucial economic question regarding property values, debt loads, mortgage accessibility, and long-term provincial prosperity.

This comprehensive analysis draws on evidence from the Canada West Foundation report, Alberta in Confederation: The Economic, Trade and Constitutional Realities of Separation, to examine the roots of Western alienation, evaluate arguments from both sides of the debate, detail the domino effects on real estate and mortgages, and outline key voting logistics for the upcoming referendum.

The Historical Roots of Western Alienation

Western alienation is rooted in decades of net financial transfers, regulatory conflicts, and constitutional shifts that have left many Albertans feeling economically exploited yet politically marginalized.

The Fiscal Transfer Imbalance

Between 1961 and 2024, Ottawa extracted a net total of $631 billion from Alberta. Over the past decade alone, net transfers out of the province averaged $16 billion annually—even during years when Alberta ran multi-billion-dollar provincial deficits. In 2024, Alberta accounted for 11.9% of Canada's population and generated 15.1% of federal revenues, but received only 9.8% of federal spending in return.

Regulatory Interventions and Capital Flight

Federal policies over the past decade—including Bill C-69 (the Impact Assessment Act), federal carbon pricing, and proposed oil and gas emissions caps—have created significant investment friction. Between 2014 and 2019, capital expenditure in the Canadian energy sector plunged from $80 billion to $35 billion, sparking a $100 billion capital exodus as energy firms shifted investments to international jurisdictions.

Erosion of Constitutional Protections

Key constitutional protections won by Premier Peter Lougheed in 1982 have experienced steady erosion:

• Section 92A (Resource Control): Intended to grant provinces exclusive control over non-renewable natural resources, Section 92A was undermined when the Supreme Court upheld Ottawa's federal carbon tax authority.

• Section 38 (Amending Formula): The original 7/50 amending formula guaranteed provincial equality. However, the 1996 Regional Veto Act granted unilateral vetoes to Ontario, Quebec, and British Columbia, while grouping Alberta alongside Saskatchewan and Manitoba as a single Prairie region.

• Section 35 (Indigenous Rights): Expanded judicial interpretations transformed Section 35 into a legal framework frequently used to delay major energy infrastructure projects.

• Senate Reform Defeats: Decades of advocacy for an elected, equal, and effective "Triple-E" Senate were halted by Supreme Court rulings requiring complex constitutional consent to alter the upper chamber.

Structural Political Deficit

Representation in the House of Commons is based on population, giving Ontario and Quebec 200 of 338 seats. Federal political parties can form majority governments without winning a single seat in Western Canada, creating political incentives to enact policies that redistribute wealth from the energy-rich West to central Canada.

Weighing Both Sides of the Independence Debate

The debate over Alberta’s future involves competing priorities regarding local control, market access, and economic certainty.

Constitutional, Legal, and Indigenous Roadblocks

Achieving independence presents major legal hurdles that extend well beyond a provincial vote.

The Constitutional Amending Barrier

Under the Supreme Court of Canada's 1998 Secession Reference, a province cannot unilaterally declare independence. A vote for separation creates a duty for all parties to negotiate in good faith, but final separation requires a formal constitutional amendment. Under Section 41 of the Constitution Act, 1982, altering Canada's territorial boundaries or constitutional structure would likely require unanimous approval from the federal Parliament and all 10 provincial legislatures.

Pre-Existing Indigenous Treaties and Rights

Treaties 6, 7, and 8 predate the establishment of Alberta as a province in 1905 and were negotiated directly between First Nations and the federal Crown.

• Federal Reserve Lands: Alberta contains 48 First Nations communities spanning 134 land parcels totaling over 1.7 million acres of federal Crown land.

• Métis Settlements: Alberta's eight Métis settlements cover 1.25 million acres under fee simple title protected by the provincial constitution.
  

• First Nations leadership maintains that treaty rights attach to the Canadian Crown, not the province. Enforcing an international border across traditional treaty territories creates significant legal and territorial challenges, producing a fragmented jurisdictional landscape.
  

Economic Domino Effects: Debt, Jobs, and Investment

                              ┌─────────────────────────────────────────┐
                              │     Alberta Independence Referendum     │
                              └────────────────────┬────────────────────┘
                                                   │
                                                   ▼
                              ┌─────────────────────────────────────────┐
                              │  Sovereignty & Separation Negotiation   │
                              └────────────────────┬────────────────────┘
                                                   │
          ┌────────────────────────────────────────┼────────────────────────────────────────┐
          │                                        │                                        │
          ▼                                        ▼                                        ▼
┌──────────────────┐                     ┌──────────────────┐                     ┌──────────────────┐
│  Fiscal Impact   │                     │ Economic Impact  │                     │ Trade & Business │
└─────────┬────────┘                     └─────────┬────────┘                     └─────────┬────────┘
          │                                        │                                        │
          ├─► Federal Debt Apportionment           ├─► Non-Tariff Barriers (NTBs)           ├─► Exit from CFTA & CUSMA
          │   ($174B - $333B added)      │   (Trade costs +8% to +12%)  │   (Re-negotiation required)
          │                                        │                                        │
          ├─► Per Capita Debt Triples              ├─► $39.1B - $62B GDP Contraction├─► Transport & Logistics Friction
          │   ($27K ➔ $80K-$95K)         │                                        │   (Trucking/Aviation delays)
          │                                        ├─► 45,700 - 175,000 Job Losses│
          └─► Borrowing Cost Increases             │                                        └─► Larger Corporate Inventories
              (10-20 bps risk premium)   └─► Capital Flight & Investment Freeze       (Reduced return on capital)
                                                       ($10B - $15B foregone/yr)

Why Per Capita Debt Would Triple

In separation negotiations, Alberta would be required to assume its proportional share of Canada's gross federal debt ($2.182 trillion in 2024).

• Population Share Method: Allocating debt by population share (12.5%) adds $174.2 billion to Alberta's liabilities.

• GDP Share Method: Allocating debt by nominal GDP share (14.3% to 15.2%) adds $200 billion to $333 billion.

Adding $174 billion to $333 billion in assumed federal debt to Alberta’s existing provincial liabilities ($132 billion) brings total gross debt to between $306 billion and $465 billion. As a result, per capita debt for every Albertan would rise from $27,000 to between $80,000 and $95,000. Credit downgrades on single-commodity sovereign debt would trigger an interest rate risk premium of 10 to 20 basis points, raising annual provincial debt servicing costs to over $10.2 billion.

Why Mass Job Losses and Capital Flight Would Occur

Economic modeling projects a loss of 45,700 to 175,000 jobs in an independent Alberta:

• Non-Tariff Barriers: Establishing border controls and administrative compliance between Alberta, Canada, and the US would increase trade costs by 8% to 12%, shrinking nominal GDP by 7.2% ($39.1 billion to $62 billion annually).

• Investment Freezes: Investor risk-aversion surrounding currency and legal titles is projected to cause $10 billion to $15 billion in foregone annual business investment.

• Income Drops: Primary household income across the province would fall by $13.9 billion (4.8%), while personal disposable income per person would drop by $2,954.

Deep Dive: Real Estate, Property Values, CMHC, and Mortgage Rates

For homeowners, buyers, and real estate investors, independence introduces unprecedented operational uncertainty into Alberta's housing market.

What Would Happen to Property Values?

Property values respond directly to population mobility, employment levels, and confidence in local economic stability.

• Investment & Construction Drop: The Canada West Foundation report projects a 14.5% ($3.8 billion) drop in nominal residential investment and a 10.5% drop in housing starts (3,623 fewer builds per year).

• Supply Gluts vs. Demand Collapse: If political uncertainty triggers out-migration—similar to Quebec's net loss of over 100,000 residents following the 1976 election—an influx of resale properties would hit the market just as buyer demand contracts.

• Risk of "Underwater" Mortgages: Analysts warn that falling home prices combined with stagnant wage growth could leave thousands of homeowners in an "underwater mortgage" situation, where their outstanding mortgage balance exceeds the market value of their home.

What Happens to CMHC-Backed Mortgages?

The Canada Mortgage and Housing Corporation (CMHC) is a federal Crown corporation that backstops mortgage default insurance for buyers putting down less than 20% down payment. No crown? No CMHC.

• Loss of Federal Guarantee: As a federal Crown entity, CMHC would no longer automatically insure new mortgages originated in a separate Alberta unless a specific bilateral agreement was negotiated.

• First-Time Homebuyer Hurdles: Because first-time buyers account for roughly 40% of transaction volumes, losing CMHC coverage would force Alberta to establish an "Alberta Housing and Mortgage Corporation" from scratch. Until such an institution is fully operational and capitalized, major lenders would require buyers to provide larger down payments (20%+), significantly reducing the pool of eligible buyers and dampening transaction activity.

• Existing Mortgages: Existing CMHC-insured mortgages are binding private contracts that would remain intact, but renewals could face stricter re-qualification stress tests if handled by federally regulated Canadian banks operating across international borders.

Would Mortgage Rates Go Up?

Yes, mortgage rates would almost certainly rise. Several factors contribute to upward rate pressure:

1. Sovereign Risk Premium: Capital markets would price in political and currency risk, forcing sovereign bond yields higher. Because fixed mortgage rates track bond yields, lenders would add a 10 to 20+ basis point risk premium to mortgage products.

2. Loss of Central Bank Backing: Without the Bank of Canada setting interest rates or acting as a lender of last resort, an independent Alberta adopting the CAD or USD would have zero control over monetary policy. If Alberta created its own currency, interest rates set by a new central bank would be tied directly to volatile oil prices, leading to unpredictable rate spikes.

3. Lender Risk Aversion: Canada's major banks (regulated federally by OSFI) would face increased uncertainty regarding credit risk, property titles, and judicial jurisdiction in Alberta. To compensate, financial institutions would apply higher qualifying stress test rates or increase lending spreads.

Demographics and Labour Disruptions

Here’s where I shine. With over 10 years’ experience as an executive recruiter and national trainer, I know what I’m talking about here. Simply put, our job market would be in the toilet immediately, for a long time, if the vote passes. Why? Alberta's labor market relies heavily on migration: only 40% of working-age Albertans (ages 25–64) were born in Alberta, while 25% moved from other provinces and 30% are international immigrants.

                     Working-Age Population (Ages 25–64)
                   ┌────────────────────────────────────────┐
                   │  Born in Alberta: 40%                  │
                   │  Born Elsewhere in Canada: 25%         │
                   │  Born Outside Canada: 30%    │
                   └────────────────────────────────────────┘

Furthermore, major energy projects in Alberta rely on 30,000 interprovincial fly-in/fly-out workers. Converting Canadian workers into foreign labor requiring visa permits, out-of-country tax filings, and duplicate trade credentials would sever a vital workforce pipeline.

Participating in the October 19 Vote: Registration, Special Ballots & Staffing Shortages

As the October 19, 2026 referendum approaches, electors should be aware of key voter registration rules, mail-in deadlines, and significant administrative staffing shortages across the province.

Drastic Shortage of Election Workers

Elections Alberta needs to recruit roughly 60,000 election workers to run voting places and process the 10 referendum questions. However, recruitment efforts remain far short of that target—particularly across rural electoral divisions and smaller communities.

Paid positions (ranging from $255 to $350 per day, or $20 to $23 per hour with paid training) are open to high school students (ages 16–17), non-citizens, and electors alike. Positions include voting officers, registration clerks, and count coordinators. Those interested in working the election can apply directly through the Elections Alberta Employment Portal.

How to Confirm You Are Registered to Vote

To avoid long lines on election day, electors are encouraged to verify their registration details in advance. You can check, update, or register your voter information online using the official Elections Alberta Voter Registration Portal.

How to Obtain a Special Ballot (Voting by Mail)

If you are unable or prefer not to vote in person during advance voting or on Election Day, you can request a Special Ballot package:

• Revised Application Deadline: Elections Alberta moved the deadline to request a special ballot forward to September 25, 2026 (to allow sufficient mail delivery time over the Thanksgiving holiday).

• Return Deadline: Completed special ballot packages must be received by mail or delivered to Elections Alberta offices by 5:00 PM on October 16, 2026.

• How to Request: Electors can apply online via the Elections Alberta Special Ballot Request Portal.

Frequently Asked Questions (FAQ)

What would happen to my home's property value if Alberta separates?

Property values would likely face downward pressure due to projected drops in disposable income ($2,954 per person), a 14.5% decline in residential investment, and potential population out-migration flooding the market with resale listings. When inventory goes up drastically and quickly, prices crash.

What happens to my existing CMHC-insured mortgage?

Existing CMHC-insured mortgages are legally binding private contracts that remain in place. However, new buyers would lack automatic federal CMHC backing until Alberta established a provincial equivalent entity, requiring buyers with under 20% down payments to seek alternative financing options.

Will mortgage interest rates go up after separation?

Yes. Bond markets and major lenders would price in sovereign risk, driving fixed and variable mortgage rates higher. Lenders would also apply stricter qualification standards to manage economic and currency uncertainty.

How do I apply for a Special Ballot or work at the polls for the October 19 referendum?

You can request a mail-in ballot before September 25, 2026, or apply for paid election worker positions directly through Elections Alberta.

Navigating a choice of this magnitude requires balancing valid political grievances against the concrete financial, legal, and real estate implications for Alberta's long-term prosperity. Ensuring you are registered and informed allows every Albertan to play an active role in shaping the province's future on October 19.

Finally, if you’re wondering why a realtor is concerned about this at all, it’s simple - this affects every man, woman, and child throughout the country. I feel strongly that it is incumbent on me, and all Albertans, to be as informed as possible regarding the issues, and potential outcomes, of such a monumental decision. I also want to be very clear that I respect all sides of this topic, and my only wish is that regardless of your point of view, you put your money where your mouth is and brave the long lines. We’re incredibly lucky to live in a place that welcomes discourse and respects opinions from all sides, and I wouldn’t have it any other way.

The full report that this information is pulled from can be accessed here.

As we move past the busy summer months and transition into autumn, the Greater Edmonton Area (GEA) real estate market is experiencing a predictable seasonal cool-down. At Pabian Realty, we are closely monitoring these shifts to ensure you have the best information possible for your next move.

According to the latest data from the REALTORS® Association of Edmonton, August 2026 brought increased inventory alongside a moderation in sales, giving buyers more choice as more homes are listed for sale, and they are taking longer to sell.

August 2026 Market Snapshot

TOTAL SALES

• 2,143 Properties Sold

• Month-over-Month: ⬇️ 15.4% (vs. July 2026)

• Year-over-Year: ⬇️ 9.8% (vs. August 2025)

AVERAGE SELLING PRICE

• $469,602 Across All Residential Types

• Month-over-Month: ⬇️ 1.1% (vs. July 2026)

• Year-over-Year: ⬆️ 1.8% (vs. August 2025)

BENCHMARK PRICE (HPI)

• $426,900 Composite Benchmark across all property types

• Month-over-Month: ⬇️ 0.6% (vs. July 2026)

• Year-over-Year: ⬇️ 0.6% (vs. August 2025)

NEW LISTINGS

• 3,769 New Properties Listed

• Month-over-Month: ⬇️ 8.1% (vs. July 2026)

• Year-over-Year: ⬆️ 3.3% (vs. August 2025)

ACTIVE INVENTORY (the total number of properties listed)

• Month-over-Month: ⬇️ 1.1% (vs. July 2026)

• Year-over-Year: ⬆️ 15.1% (vs. August 2025)

"A slow-down in activity has continued as autumn approaches, reflecting normal seasonal trends... Average prices are not showing significant changes from the previous year, indicating steadiness; meanwhile, inventory is continuing to accrue in our market."

— Darlene Reid, 2026 Board Chair, REALTORS® Association of Edmonton

Property-Type Breakdown:

Single-Family Detached Homes

• Average Price: $575,575

• Price Trend: Down 1.6% MoM | Up 1.0% YoY

• Activity: Sales fell 15.7% from July, but new listings are up 5.8% compared to last August.

Semi-Detached (Duplexes)

• Average Price: $424,322

• Price Trend: Down 0.3% MoM | Up 0.8% YoY

• Activity: New listings dropped 23.7% month-over-month, keeping prices steady.

Row / Townhomes

• Average Price: $298,238

• Price Trend: Up 1.9% MoM | Down 1.2% YoY

• Activity: The only property type with a month-over-month price gain, driven by demand for affordable options.

Actionable Insights for Your Real Estate Journey

• For Active Buyers: Selection is expanding. With total inventory up over 15% compared to last year and prices easing slightly across most categories, you have more room to negotiate without peak-season pressure.

• For Active Sellers: Strategic pricing is essential. Ample inventory means buyers are selective. Properties that are well-presented and competitively priced are attracting serious offers.

• For Future Sellers (6–12 Months Out): Watch inventory trends closely. If supply continues to build through the winter, pricing pressure could carry into early next year. Start planning value-adding improvements now.

• For First-Time Buyers & Investors: Market stability works to your advantage. Year-over-year average prices are essentially flat (+1.8%), making this a favorable window to secure pre-approvals and evaluate options.

Frequently Asked Questions

Is the Edmonton real estate market crashing?
No. The 15.4% decline in sales from July reflects standard seasonal patterns as attention shifts to back-to-school routines. Year-over-year prices remain steady (+1.8%).

Why are townhome prices rising while detached prices dipped slightly?
Affordability is top-of-mind. Properties under $350,000 offer an attractive entry point, keeping demand high for townhomes relative to higher-priced single-family units.

Should I wait until Spring to buy?
Buying during fall or winter often means working with motivated sellers and encountering fewer competing offers compared to the busy spring market.

Ready to Make Your Move?
Whether the market is accelerating or cooling down, having experienced guidance ensures you make the right moves. At Pabian Realty, we combine local market data with personalized strategy to help you buy or sell with confidence. Call or text Mike today for a complimentary home evaluation or to set up a customized property search tailored to your goals.

Data sourced from the REALTORS® Association of Edmonton Market Report.